Three little words
“As I’ve written in past memos, I have an indelible recollection of the first book I read as a Wharton freshman in 1963. The…
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Before Coronavirus
“In order to succeed, you must first survive.” Nassim Nicholas Taleb. “I am certain that my fellow Americans expect that on…
Read MoreWeeks where decades happen
“There are decades where nothing happens; and there are weeks where decades happen.” Lenin “My daughter just said to me, ‘Daddy, the stock…
Read MoreGet to the chopper !
“‘Get to da choppa !’ “Short for the whole phrase that Dutch (played by Arnold Schwarzenegger) says in the movie Predator, which goes: “RUN!…
Read MoreMonetary Massacre Theory
“A deeply disturbing account of the destructive potential of belief.” – Ammar Kalia, reviewing BBC Four’s Storyville: Jonestown – Terror in the Jungle. …
Read MoreTake Shelter 2.0
“The most terrifying words in the English language are: ‘I’m from the government and I’m here to help.’” Ronald Reagan. “When Nobel Prize-winner…
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Serious advice
“Given all this, what do MPs do all day? Media manipulation, not operational planning on priorities. “Unsurprisingly, most senior MPs in all three parties…
Read MoreA mob of nasty, ignorant dwarves
“The first rule of compounding is to never interrupt it unnecessarily.” Charlie Munger. “[Ronnie Millar] was.. surprised to be ordered by [Mrs….
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“Mind-alteringly cheap”
“The problem is not so much to see what nobody has yet seen, as to think what nobody has yet thought concerning that…
Read MoreDon’t be so negative
“FED’S WILLIAMS SAYS IN A DOWNTURN WE COULD CONSIDER QUANTITATIVE EASING, NEGATIVE RATES.” Tweet by Reuters’ Jennifer Ablan, reporting on a speech by…
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