Nothing in the world can take place of persistence.
Talent will not; nothing is more common than unsuccessful men with talent.
Genius will not; unrewarded genius is almost a proverb.
Education will not; the world is full of educated derelicts.
Persistence and determination alone are omnipotent
Calvin Coolidge
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......"The economic situation is fundamentally sound" or simply "The fundamentals are good". All who hear these words should know that something is wrong......
By John Kenneth Galbraith in his remarkable book "The Great Crash 1929"
By John Kenneth Galbraith in his remarkable book "The Great Crash 1929"
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Excerpted from Common Sense on Mutual Funds by John C. Bogle, pages 4-6
"Might some unforeseeable economic shock trigger another depression so severe that it would destroy our faith in the promise of investing? Perhaps. Excessive confidence in smooth seas can blind us to the risk of storms. History is replete with episodes in which the enthusiasm of investors has driven equity prices to - and even beyond - the point at which they are swept into a whirlwind of speculation leading to unexpected losses. There is little certainty in investing. As long-term investors however, we cannot afford to let the apocalyptic possibilities frighten us away from the markets. For without risk there is no return"
"Might some unforeseeable economic shock trigger another depression so severe that it would destroy our faith in the promise of investing? Perhaps. Excessive confidence in smooth seas can blind us to the risk of storms. History is replete with episodes in which the enthusiasm of investors has driven equity prices to - and even beyond - the point at which they are swept into a whirlwind of speculation leading to unexpected losses. There is little certainty in investing. As long-term investors however, we cannot afford to let the apocalyptic possibilities frighten us away from the markets. For without risk there is no return"
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As quoted by Bogle in his book Common Sense on Mutual Funds
"Chance is a man who has grown to middle age living in a solitary room in a rich man's mansion, bereft of contact with other human beings. He has two all-consuming interests: watching television and tending the garden outside his room. When the mansion's owner dies, Chance wanders out on his first foray into the world. He is hit by the limousine of a powerful industrialist who is an adviser to the President. When he is rushed to the industrialist's estate for medical care, he identifies himself only as Chance the gardener. In the confusion, his name quickly becomes Chauncey Gardiner.
When the President visits the industrialist, the recuperating Chance sits in on the meeting. The economy is slumping; America's blue-chip corporations are under stress; the stock market is crashing. Unexpectedly, Chance is asked for his advice:
Chance shrank. He felt the roots of his thoughts had been suddenly yanked out of their wet earth and thrust, tangled, into the unfriendly air. He stared at the carpet. Finally, he spoke: 'In a garden,' he said, 'growth has its season. There are spring and summer, but there are also fall and winter. And then spring and summer again. As long as the roots are not severed, all is well and all will be well.'
He slowly raises his eyes, and sees that the President seems quietly pleased - indeed, delighted - by his response. 'I must admit, Mr. Gardiner, that is one of the most refreshing and optimistic statements I've heard in a very, very long time. Many of us forget that nature and society are one. Like nature, our economic system remains, in the long run, stable and rational, and that's why we must not fear to be at its mercy.... We welcome the inevitable seasons of nature, yet we are upset by the seasons of our economy! How foolish of us.'"
"Chance is a man who has grown to middle age living in a solitary room in a rich man's mansion, bereft of contact with other human beings. He has two all-consuming interests: watching television and tending the garden outside his room. When the mansion's owner dies, Chance wanders out on his first foray into the world. He is hit by the limousine of a powerful industrialist who is an adviser to the President. When he is rushed to the industrialist's estate for medical care, he identifies himself only as Chance the gardener. In the confusion, his name quickly becomes Chauncey Gardiner.
When the President visits the industrialist, the recuperating Chance sits in on the meeting. The economy is slumping; America's blue-chip corporations are under stress; the stock market is crashing. Unexpectedly, Chance is asked for his advice:
Chance shrank. He felt the roots of his thoughts had been suddenly yanked out of their wet earth and thrust, tangled, into the unfriendly air. He stared at the carpet. Finally, he spoke: 'In a garden,' he said, 'growth has its season. There are spring and summer, but there are also fall and winter. And then spring and summer again. As long as the roots are not severed, all is well and all will be well.'
He slowly raises his eyes, and sees that the President seems quietly pleased - indeed, delighted - by his response. 'I must admit, Mr. Gardiner, that is one of the most refreshing and optimistic statements I've heard in a very, very long time. Many of us forget that nature and society are one. Like nature, our economic system remains, in the long run, stable and rational, and that's why we must not fear to be at its mercy.... We welcome the inevitable seasons of nature, yet we are upset by the seasons of our economy! How foolish of us.'"
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Chance Gardnier, in #4, is the main character in the critically acclaimed movie - "Being There", played by Peter Sellers.
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DosaiLvr;5082Chance Gardnier, in #4, is the main character in the critically acclaimed movie - "Being There", played by Peter Sellers.[/quote]
DosaiLvr
You are correct. Yet the novel comes first hence I quoted the novel name in the Title.
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Desibabu19
- Posts: 34
- Joined: Wed Dec 20, 2006 2:50 am
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Nobody can be so amusingly arrogant as a young man who has just discovered an old idea and thinks it is his own.
--- Sydney Harris
--- Sydney Harris
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?Think of what life would be like if everyone were phobic about lightning, flying in airplanes, or investing in start-up companies. We are indeed fortunate that human beings differ in their appetite for risk
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If everything is a matter of luck, risk management is a meaningless exercise. Invoking risk obscures truth, because it separates an event from its cause
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The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing the areas where we have absolutely no control over the outcome and the linkage between effect and cause is hidden from us"
from "Against the Gods" by Peter L. Bernstein
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If everything is a matter of luck, risk management is a meaningless exercise. Invoking risk obscures truth, because it separates an event from its cause
...
The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing the areas where we have absolutely no control over the outcome and the linkage between effect and cause is hidden from us"
from "Against the Gods" by Peter L. Bernstein
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obiwankanobi
- Posts: 111
- Joined: Wed Jan 31, 2007 6:38 pm
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Winning is not by chance, its a habit, unfortunately so is losing.
Father is a banker provided by nature
In matters of principle stand like a rock, in matters of fashion flow like a river
When an old man dies a library is lost
When you are dancing with a customer let him lead
Everyone gets wisdom with age, the trick is to get wise before you get old.
Father is a banker provided by nature
In matters of principle stand like a rock, in matters of fashion flow like a river
When an old man dies a library is lost
When you are dancing with a customer let him lead
Everyone gets wisdom with age, the trick is to get wise before you get old.
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When I was young, people called me a gambler. As the scale of my operations increased I became known as a speculator. Now I am called a banker. But I have been doing the same thing all the time.
Sir Ernest Casel - banker to Edward VII
as quoted in Devil Take the Hindmost by Edward Chancellor
Sir Ernest Casel - banker to Edward VII
as quoted in Devil Take the Hindmost by Edward Chancellor