In omnibus requiem quaesivi, et nusquam inveni nisi in angulo cum libro.
All models are wrong, but some are useful
Most people overestimate what they can do in one year and underestimate what they can do in ten years
It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price
Gold can go up for only two reasons, [one is] inflation, and we are in a world where there are massive amounts of deflation because of a glut of capacity… There’s no inflation, and there’s not going to be for the time being. The only other case in which gold can go higher with deflation is if you have Armageddon, if you have another depression. But we’ve avoided that tail risk as well.
The smarter the journalists are, the better off society is. For to a degree, people read the press to inform themselves – and the better the teacher, the better the student body.