Annual Meeting Quotes

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Ah,” said a voice from the doorway, “having your annual ‘everyone thinks Will is a lunatic’ meeting, are you? “It’s biannual,” said Jem. “And no, this is not that meeting.
Cassandra Clare (Clockwork Prince (The Infernal Devices, #2))
I was at the annual meeting of a state library association a few years later, when the children were in the process of leaving the nest, and one of the librarians asked me, "What do you think you and Hugh have done which was the best for your children?" I answered immediately and without thinking, "We love each other.
Madeleine L'Engle (Walking on Water: Reflections on Faith and Art)
Yeah his being Sumerian to this group would go over like an Ozzy Osbourne/Marilyn Manson duet at the Southern Baptist Convention’s annual meeting. He might as well be wearing a shit that said “Kibbles and Bits,” with a heavy emphasis on the “bits” part...
Sherrilyn Kenyon (Devil May Cry (Dark-Hunter, #11))
On the Ideal Business - Buffett: “Something that costs a penny, sells for a dollar and is habit forming.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
In order to be labeled organic, a crop must be grown without the use of certain synthetic pesticides and fertilizers, as specified by the USDA. Though produced with fewer synthetic compounds, organic vegetables are not necessarily tastier or more nutritious than their conventional counterparts. Also keep in mind that the certification process is often too expensive for small farms even though their practices may meet or exceed those set by the USDA. The smallest farms-those selling less than $5,000 worth of crops annually-may by law label their produce organic without being inspected or certified. Rather than rely on labeling, we prefer, when possible, to buy locally grown vegetables in their season.
Irma S. Rombauer (Joy of Cooking)
If investors only had to study the past, the richest people would be librarians.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
RSPCC MEETING STRICTLY PRIVATE THIS ROOM IS RESERVED FOR THE ANNUAL MEETING OF THE ROYAL SOCIETY FOR THE PREVENTION OF CRUELTY TO CHILDREN
Roald Dahl (The Witches)
After you have enough for daily life, all that matters is your health and those you love.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Oh, Oliver, I said to myself on my way to the kitchen for a quick bite to eat, I’ll do anything for you. I’ll ride up the hill with you, and I’ll race you up the road to town, and won’t point out the sea when we reach the berm, and I’ll wait at the bar in the piazzetta while you meet with your translator, and I’ll touch the memorial to the unknown soldier who died on the Piave, and I won’t utter a word, I’ll show you the way to the bookstore, and we’ll park our bikes outside the shop and go in together and leave together, and I promise, I promise, I promise, there’ll be no hint of Shelley, or Monet, nor will I ever stoop to tell you that two nights ago you added an annual ring to my soul.
André Aciman (Call Me by Your Name)
The right manager can have an absolutely huge impact. Find people with brains, energy and integrity,
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Yet the industry asks for more money from investors every year. The idea is to find investments that give you money, not take it.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
One of Buffett’s annual themes is the value of learning. He noted that life properly lived is learning, learning, learning all the time. He observed that being wrong is when he learns the most.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
our Earth is taking part in a fantastic cosmic ballet. First, it pulls us through space at a speed of nearly twenty miles per second during its annual journey around the Sun. The Sun then drags the Earth with it during its voyage through the Milky Way at a speed of 140 miles per second. The Milky Way is falling in turn at approximately fifty-five miles per second toward Andromeda. And there's more to come. The Local Group that contains our galaxy and Andromeda is falling at about 375 miles per second toward the Virgo cluster of galaxies, which is in turn moving toward a large complex of galaxies called the Great Attractor.
Matthieu Ricard (The Quantum and the Lotus: A Journey to the Frontiers Where Science and Buddhism Meet)
The danger of relying on historical statistics or formulas is that you end up betting on a 14-year-old horse with a great record but is now ready for the glue factory.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Value is what a business is worth. Price is what you have to pay to get it.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Munger claimed that it is because professors are so enamored by modern portfolio theory. For the man with a hammer, every problem looks like a nail.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Ben Franklin’s advice: “Keep your eyes wide open before marriage and half shut thereafter.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett gave two criteria for evaluating the performance of management: 1) How well do they run the business? and 2) How well do they treat the owners?
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Tom Murphy, CEO of Capital Cities/ABC and considered by Buffett to be the best business manager in the country, prays every day to be humble.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett continued, saying that MPT has no utility. It is elaborate with lots of little Greek letters to make you feel you are in the big leagues. The
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett pointed out that when the investment tide goes out, you will see who has been swimming naked.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
God meets daily needs daily. Not weekly or annually. He will give you what you need when it is needed.
Max Lucado
Munger noted that high profits on capital often rely on information inefficiencies.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Warren recommended doing what turns you on. Munger agreed, saying he’d never done anything really well that he didn’t like to do.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett noted that he likes to put a lot of money in things he feels strongly about. Diversification makes no sense for someone who knows what they are doing.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
We’d buy great businesses with excellent management at a fair to bargain price and leave them alone.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Candice had never seen so many people in one place at once, except at her town’s annual meeting once when the mayor was caught having sex with his horse.
K.L. Hall (Bi-curious)
We have three baskets: in, out, and too tough. … We have to have a special insight, or we’ll put it in the “too tough” basket. —CHARLIE MUNGER, WESCO ANNUAL MEETING, 2002
Tren Griffin (Charlie Munger: The Complete Investor (Columbia Business School Publishing))
If you can't reach your dreams, If you can't achieve your goals, If you can't meet your plans, Least be happy each day Success is not an annual achievement, It's a daily achievement.
Bradley B. Dalina
There are essentially five things public corporations can do with a dollar earned: reinvest in the business, acquire other businesses or assets, pay down debt, pay dividends, and/or buy in shares. Deciding
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
When the solution to a given problem doesn’t lay right before our eyes, it is easy to assume that no solution exists. But history has shown again and again that such assumptions are wrong. This is not to say the world is perfect. Nor that all progress is always good. Even widespread societal gains inevitably produce losses for some people. That’s why the economist Joseph Schumpeter referred to capitalism as “creative destruction.” But humankind has a great capacity for finding technological solutions to seemingly intractable problems, and this will likely be the case for global warming. It isn’t that the problem isn’t potentially large. It’s just that human ingenuity—when given proper incentives—is bound to be larger. Even more encouraging, technological fixes are often far simpler, and therefore cheaper, than the doomsayers could have imagined. Indeed, in the final chapter of this book we’ll meet a band of renegade engineers who have developed not one but three global-warming fixes, any of which could be bought for less than the annual sales tally of all the Thoroughbred horses at Keeneland auction house in Kentucky.
Steven D. Levitt (SuperFreakonomics: Global Cooling, Patriotic Prostitutes And Why Suicide Bombers Should Buy Life Insurance)
In modern portfolio theory, beta is used as a measure of the volatility and, thus, the risk of an investment. However, Buffett sees the use of beta as nonsense, emphatically stating, “Volatility is no measure of risk to us.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett also noted that book value is seldom meaningful in analyzing the value of a business. Book value simply records what was put into the business. The key to calculating value is determining what will come out of the business.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
I didn't know until a year later that Marilyn Manson had canceled concert dates in our area out of respect, or that the NRA did not cancel their annual meeting, held at a hotel fifteen miles away from the school, just ten days after the shootings.
Sue Klebold (A Mother's Reckoning: Living in the Aftermath of Tragedy)
Just as there are those who accept every UFO report at face value, there are also those who dismiss the idea of alien visitation out of hand and with great passion. It is, they say, unnecessary to examine the evidence, and “unscientific” even to contemplate the issue. I once helped to organize a public debate at the annual meeting of the American Association for the Advancement of Science between proponent and opponent scientists of the proposition that some UFOs were spaceships; whereupon a distinguished physicist, whose judgment in many other matters I respected, threatened to sic the Vice President of the United States on me if I persisted in this madness. (Nevertheless, the debate was held and published, the issues were a little better clarified, and I did not hear from Spiro T. Agnew.)
Carl Sagan (The Demon-Haunted World: Science as a Candle in the Dark)
I dream of a day when, while retaining our respective national identities, one can have breakfast in Amritsar, lunch in Lahore and dinner in Kabul. That is how my forefathers lived. That is how I want our grandchildren to live.’ Manmohan Singh, FICCI annual general meeting 8 January 2007
Sanjaya Baru (The Accidental Prime Minister: The Making and Unmaking of Manmohan Singh)
occasional outbreaks of those two super-contagious diseases, fear and greed, will forever occur in the investment community. The timing of these epidemics will be unpredictable. And the market aberrations produced by them will be equally unpredictable, both as to duration and degree. Therefore, we never try to anticipate the arrival or departure of either disease. Our goal is more modest: we simply attempt to be fearful when others are greedy and to be greedy only when others are fearful. As
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
what I defend above all is the possibility and the necessity of the critical intellectual, who is firstly critical of the intellectual doxa secreted by the doxosophers. there is no genuine democracy without genuine opposing critical powers. the intellectual is one of those, of the first magnitude. that is why I think that the work of demolishing the critical intellectual, living or dead - marx, nietzsche, sartre, foucault, and some others who are grouped together under the label pansee 68- is as dangerous as the demolition of the public interest and that it is part of the same process of restoration. of course I would prefer it if intellectuals had all, and always, lived up to the immense historical responsibility they bear and if they had always invested in their actions not only their moral authority but also their intellectual competence- like, to cite just one example, pierre vidal-naquet, who has engaged all his mastery of historical method in a critique of the abuses of history. having said that, in the words of karl kraus, 'between two evils, I refuse to choose the lesser.' whole I have little indulgence for 'irresponsible' intellectuals, I have even less respect for the 'intellectuals' of the political-administrative establishment, polymorphous polygraphs who polish their annual essays between two meetings of boards of directors, three publishers' parties and miscellaneous television appearances.
Pierre Bourdieu (Acts of Resistance: Against the Tyranny of the Market)
Buffett quoted Marshall Fields: “We waste half of the money we spend on advertising . . . the problem is we just don’t know which half.” From
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Being able to think and invest very long term and not worry about current earnings or Wall Street analysts can be a major competitive advantage in certain businesses. Acquire
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
the real key is to be able to figure out what the average profitability of the business will be over the long term and how strong the business moat may be. Buffett’s
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
One ratio that Buffett is known to track is the total market cap to GDP. Recently, it was at 125%, which is a level approached in 1999 during the Internet bubble. Another
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett observed that they do have filters. A key one is whether they have a good idea of how the business is going to do over the next five or 10 years.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
the single biggest outcome of the Internet has been little understood: buyers are the winners.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
File taxes on time: Meet all tax filing deadlines, including annual returns and quarterly payments, to avoid penalties and interest.
Hendrith Vanlon Smith Jr.
Every year Buffett explains that he wants Berkshire to have great long-term shareholders and that splitting the stock would only work against that.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
The valuation picture is very much affected by our zero-based interest rate structure. Clearly, stocks are worth far more when government bonds yield 1% than when they yield 5%.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
So instead of copying, understand why they made the decisions they did. Then apply those insights to your own decisions and your own position.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Both Buffett and Munger are betting on higher, and maybe a lot higher inflation in the years to come.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
good quality corporate bonds yielding 10% or better with great call protection.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
In thinking about markets, it is important to remember that markets are there to serve you, not instruct you.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett chimed in that running a budget deficit of 10% of GDP is not sustainable.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Diversification is a protection against ignorance, a confession that you do not know the businesses you own.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
It is much easier to pick the relative strength of Coca-Cola than it is to pick a winner in software.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Yet he knew that stocks would be better than bonds or cash over the long run.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett’s formula for happiness is simple: “Do what I like with people I like.” He noted that he learned early in life that his favorite employer was himself. It avoids aggravation.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Each cooperative in Mondragon has its own workplace structure, though there are similarities and tendencies that most of them share. The firm called Irizar, which manufactures products for trans-portation, from luxury coaches to city buses, exemplifies these tendencies. To encourage innovation and the diffusion of knowledge, there are no bosses or departments in Irizar. Rather, it has a flat organizational structure based on work teams with a high degree of autonomy. (One study remarks that they “set their own targets, establish their own work schedules, [and] organize the work process as they see fit.”) The teams also work with each other, so that knowledge is transmitted efficiently. Participation occurs also in the general assembly, which meets three times a year rather than the single annual meeting common in other Mondragon firms. Its subsidiaries in other countries have at least two general assemblies a year, where they approve the company’s strategic plan, investments, etc. These participatory structures have enabled Irizar to surpass its competitors in profitability and market share.69
Chris Wright (Worker Cooperatives and Revolution: History and Possibilities in the United States)
Buffett chimed in that most buybacks are done at any price, which makes no sense. Very rarely do you see metrics to govern the prices paid. Buybacks above intrinsic value destroy value.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
At their best, conglomerates enable the tax efficient transfer of cash from businesses that cannot use the money intelligently to those that can. Berkshire is a very rational conglomerate.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett wanted to make sure that Nebraska got their sales tax. He was adamant about making sure that Berkshire paid—not more taxes than it had to, but the taxes that it was responsible for.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
the balance between annual profit and investment for future growth is the key. Revenues versus costs is important, but the latter should not be cut merely to meet management bonus targets. There
Felix Dennis (How to Get Rich)
Are you saying people aren’t interested in the truth?” “Listen, what’s true to a lot of people is that they need the money for the rent by the end of the week. Look at Mr. Ron and his friends. What’s the truth mean to them? They live under a bridge!” She held up a piece of lined paper, crammed edge to edge with the careful looped handwriting of someone for whom holding a pen was not a familiar activity. “This is a report of the annual meeting of the Ankh-Morpork Caged Birds Society,” she said. “They’re just ordinary people who breed canaries and things as a hobby. Their chairman lives next door to me, which is why he gave me this. This stuff is important to him! My goodness, but it’s dull. It’s all about Best of Breed and some changes in the rules about parrots which they argued about for two hours. But the people who were arguing were people who mostly spend their day mincing meat or sawing wood and basically leading little lives that are controlled by other people, do you see? They’ve got no say in who runs the city but they can damn well see to it that cockatoos aren’t lumped in with parrots. It’s not their fault. It’s just how things are. Why are you sitting there with your mouth open like that?
Terry Pratchett (The Truth)
People should hear frequently about how well they’re performing. Even if doing away with the annual performance process is not feasible for you, institute much more frequent meetings to discuss performance.
Patty McCord (Powerful: Building a Culture of Freedom and Responsibility)
At an NRA annual meeting in Cincinnati in 1977, Second Amendment “absolutists” took control of the NRA from previous leaders who thought the organization was really there to protect marksmen. Gun nuts call this event the Revolt at Cincinnati. Our modern epidemic of mass shootings can, more or less, be traced to these yahoos winning control of that organization. The ammosexuals reformed the NRA from the generally benign conglomeration of Bambi killers to the grotesque weapon of mass destruction we know it to be today. It was this new NRA that invented the radical rationalization of the Second Amendment as a right to armed self-defense. It was this new NRA that gained political supremacy in the Republican party. It was this new NRA that got Ronald Reagan, who once signed one of the most sweeping gun restrictions in the nation, to sign the Firearm Owners Protection Act of 1986, an act that rolled back many of the restrictions from the Gun Control Act. The NRA’s wholesale reimagining of the Second Amendment hasn’t just lured Republican politicians, it’s become part of the gospel of Republican judges. The Federalist Society and the Heritage Foundation, the two outside interest groups most responsible for telling Republican judges how to rule, have fully adopted an absolutist, blood-soaked interpretation of the Second Amendment. These groups of alleged “textualists” read “well regulated militia” clear out of the text of the Amendment. Instead, they substitute self-defense as the “original purpose” of the language. There was an original purpose to the Second Amendment, but it wasn’t to keep people safe. It was to preserve white supremacy and slavery.
Elie Mystal (Allow Me to Retort: A Black Guy’s Guide to the Constitution)
Buffett believed the rating agencies are good businesses: there are few competitors, they affect a large segment of the economy and they don’t require much capital (though they are still very much attackable).
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
He recommended realism in defining one’s circle of competence and discipline to stay within the circle. He added that it helps to insulate yourself from popular opinions. You’re better off sitting and thinking.6 Coping
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett reminded folks that to buy a stock is to buy part ownership of a business. Don’t get hung up on daily price quotes. Instead, think about business performance and what you would pay for the business, just as you would a farm.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
As Munger put it, “Basically, we’re a hedgehog that knows one big thing. If you generate float at 3% per annum and buy businesses that earn 13% per annum with the proceeds of that float, we have figured out that’s a pretty good position to be in.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett believes that real risk comes from the nature of certain kinds of businesses, by the simple economics of the business and from not knowing what you’re doing. If you understand the economics and you know the people, then you’re not taking much risk. For
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
The funds are good at the moment," said the treasurer, with the bankbook in front of him. "The firms have been generous of late. Max Linder & Co. paid five hundred to be left alone. Walker Brothers sent in a hundred; but I took it on myself to return it and ask for five. If I do not hear by Wednesday, their winding gear may get out of order. We had to burn their breaker last year before they became reasonable. Then the West Section Coaling Company has paid its annual contribution. We have enough on hand to meet any obligations." "What
Arthur Conan Doyle (The Valley of Fear (Sherlock Holmes, #7))
Buffett also shared some of his classic bits of wisdom about growing wealth. Spend less than what you make. Know and stay within your circle of competence. The only businesses that matter are the ones you put your money in. Keep learning over time. Don’t lose. Insist on a margin of safety.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
As a value investor, your ideal situation is to find a company increasing its intrinsic value. Ideally, the company would be one with a declining stock price, thus creating an even better bargain as time unfolds. No one has employed these principles more effectively than Buffett and Munger.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
Buffett explained that buying a business is much like buying a bond with no maturity and with a blank coupon. You must write in the coupon, and the accuracy of that coupon is the essence of intelligent investing. If you cannot guess the coupon with any accuracy, then do not invest in the business.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
It starts innocently. Casually. You turn up at the annual spring fair full of beans, help with the raffle tickets (because the pretty red-haired music teacher asks you to) and win a bottle of whiskey (all school raffles are fixed), and, before you know where you are, you're turning up at the weekly school council meetings, organizing concerts, discussing plans for a new music department, donating funds for the rejuvenation of the water fountains—you're implicated in the school, you're involved in it. Sooner or later you stop dropping your children at the school gates. You start following them in.
Zadie Smith (White Teeth)
The availability of federal grants and loans to help students meet rising tuition costs virtually ensures that those costs will rise. A college which kept tuition affordable could forfeit millions of dollars annually in federal money available to cover costs over and above what students can afford, according to a financial aid formula. Arguments
Thomas Sowell (Inside American Education)
who could blame them if they said "the hell with the rest of the world." Let somebody else buy the bonds. Let somebody else build or repair foreign dams, or design foreign buildings that won't shake apart in earthquakes." When the railways of France, and Germany, and India were breaking down through age, it was the Americans who rebuilt them. When the Pennsylvania Railroad and the New York Central went broke, nobody loaned them an old caboose. Both of 'em are still broke. I can name to you 5,000 times when the Americans raced to the help of other people in trouble. Can you name to me even one time when someone else raced to the Americans in trouble? I don't think there was outside help even during the San Francisco earthquake. Our neighbors have faced it alone, and I am one Canadian who is damned tired of hearing them kicked around. They'll come out of this thing with their flag high. And when they do, they're entitled to thumb their noses at the lands that are gloating over their present troubles. I hope Canada is not one of these. But there are many smug, self-righteous Canadians. And finally, the American Red Cross was told at its 48th Annual meeting in New Orleans this morning that it was broke. This year's disasters -- with the year less than half-over -- has taken it all. And nobody, but nobody, has helped. -  Gordon Sinclair via Radio Broadcast June 5, 1973 from Ontario, Canada
David Nordmark (America: Understanding American Exceptionalism (America, democracy in america, politics in america Book 1))
Article V For the most convenient management of the general interests of the United States, delegates shall be annually appointed in such manner as the legislatures of each State shall direct, to meet in Congress on the first Monday in November, in every year, with a powerreserved to each State to recall its delegates, or any of them, at any time within the year, and to send others in their stead for the remainder of the year.
Benjamin Franklin (The Articles of Confederation)
In a fascinating digression, Buffett noted that “the fact that you are being obsoleted does not mean you should go into the successor business.” As an example, he explained that if you were a person of vision in the passenger train business in 1930, you might have seen the coming of the airplane. But the answer was not to get into the airline business, which is a terrible business. The answer was to get out of the passenger business altogether.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
He leaned back. “What, may I ask, is the nature of our business?” She inclined her head. “Just so. It came to my attention earlier today that you had canceled the seventy-fifth annual Christmas Eve ball. I would have called upon you immediately, but I’m afraid a prior engagement tied my hands until this very moment.” He tried to make sense of her words. She was apologizing for not descending upon him more promptly for a meeting he’d never in his wildest dreams anticipated?
Erica Ridley (The Viscount's Christmas Temptation (The Dukes of War, #1))
In a revealing aside, Buffett admitted that years ago he was terrified of public speaking. He got physically ill at the thought. He said he even signed up for a $100 Dale Carnegie course but cancelled the check when he got home. Later, he did a communication course in Omaha. Doing it with others in the same boat helped him to “get outside of himself.” He’s very glad he did it, noting that effective communication is under taught, and recommended that many could benefit by forcing themselves to learn public speaking at an early age.
Daniel Pecaut (University of Berkshire Hathaway: 30 Years of Lessons Learned from Warren Buffett & Charlie Munger at the Annual Shareholders Meeting)
I still feel some type of way when people who weren’t forced to sit in stiff ruffles and too-tight patent leather mary janes for four hours every Sunday morning get to just, you know, buy an Easter basket without having done any of the work. Those jelly beans and Cadbury eggs were my annual reward for memorizing the Twenty-third Psalm and not falling asleep during Sunday school, and yet somehow there are kids who get to sleep in every weekend and have never had to identify Bible passages from memory who get the same number of jelly beans I do?!
Samantha Irby (We Are Never Meeting in Real Life.)
Since 1980, the planet has experienced a fiftyfold increase in the number of dangerous heat waves; a bigger increase is to come. The five warmest summers in Europe since 1500 have all occurred since 2002, and eventually, the IPCC warns, simply working outdoors at that time of year will be unhealthy for parts of the globe. Even if we meet the Paris goals, cities like Karachi and Kolkata will annually encounter deadly heat waves like those that crippled them in 2015, when heat killed thousands in India and Pakistan. At four degrees, the deadly European heat wave of 2003, which killed as many as 2,000 people a day, will be a normal summer. Then, it was one of the worst weather events in Continental history, killing 35,000 Europeans, including 14,000 French; perversely, the infirm fared relatively well, William Langewiesche has written, most of them watched over in the nursing homes and hospitals of those well-off countries, and it was the comparatively healthy elderly who accounted for most of the dead, many left behind by vacationing families escaping the heat, with some corpses rotting for weeks before the families returned.
David Wallace-Wells (The Uninhabitable Earth: Life After Warming)
The tone of those negotiations was very contentious,” says Becky Sauerbrunn, who served on the national team’s CBA committee and participated in most of the negotiation sessions. “They didn’t go anywhere. We would go into those meetings and say we want equal pay and they would say you’re not really generating the revenue to deserve equal pay to the men. And it just went around and around like that.” But then on March 7, Rich Nichols saw something that caught him by surprise. It was an article by Jonathan Tannenwald of the Philadelphia Inquirer that broke down financial numbers contained in U.S. Soccer’s General Annual Meeting report. The report itself was released quietly on U.S. Soccer’s website without fanfare—Tannenwald was the only journalist for a major newspaper who picked up on it. What the U.S. Soccer report showed—and what in turn the Philadelphia Inquirer explained—was that U.S. Soccer initially budgeted a $420,000 loss for 2016 but changed their numbers to expect a profit of almost $18 million, based largely on the gate receipts and merchandise sales of the women’s national team during the 2015 Women’s World Cup victory tour.
Caitlin Murray (The National Team: The Inside Story of the Women who Changed Soccer)
Call from the depth of your heart, With your loved ones you will never part, Though my time has come to depart, I love you my sweetheart, Your father is an evil King, But marrying him is my sin, I hope one day universe makes me win, I hope I can repay my sin, Though my time has come to depart, It may be the end but for you it’s the start, Call from your heart, With your loved ones you will never part, I wish you discover the Secret of the East, Where annually there is a great feast, The universe dances and stars meet, My son call from the depth of your heart, With your loved ones you will never part.
Ilika Ranjan (Secrets of Zynpagua: Birth of Mystery Child)
I had hoped for a rich crop of eccentrics among them, such as I had encountered at the annual general meeting of the Anglo-Albanian Society in London a month previously. The secretary of the society was a retired optician from Ilford who had discovered the Balkan paradise late in life and learnt its language; the rank and file of the society seemed either elderly revolutionaries of the upper classes, who knew the key to world history yet somehow had never learnt how to do up their shirt buttons properly, or lonely, embittered proletarian autodidacts, who dreamed of vengeance upon the world and called it love of humanity.
Theodore Dalrymple (The Wilder Shores Of Marx: Journeys In A Vanishing World)
For the first three years, it’s fun being a pro football player’s girlfriend.   “Marlee, let me see your hand! Did Chris propose yet?” Amber asks.   I’m in year ten.   “Still naked.” I wiggle my fingers in front of her the same way I did last week and the week before that . . . and the week before that. #HeDidntPutARingOnIt   Sometimes, I like to hashtag my life. #CheaperThanTherapy   I sip my margarita. “When it happens, I promise to let you know.” Or, you know, keep asking every time you see me.   “Marlee.” Courtney sighs. She stands at the head of the table clutching a glitter-coated gavel. “We made exceptions for you to join the Lady Mustangs. Try to acknowledge that and save your little side conversation until we’ve finished.”   “Sorry, Court.” Every time I call her Court, she strains her Botoxed forehead and glares in my direction, so obviously, it’s the only thing I call her. Well, sometimes I call her bitch, but she doesn’t know about that.   “As I was saying, the annual Lady Mustangs Fashion Show is in three weeks. Everyone must attend the next meeting so we can discuss the outfits for you and your husbands.”   I catch her eye again. She raises her chin, and her fat-injected lips form an actual smile.   “Oh, I’m sorry. In your case, Marlee, you and your boyfriend.”   See? What a bitch.   “Thanks for the clarification, Court, but I understood.
Alexa Martin (Intercepted (Playbook, #1))
I've found that, in most cases, managers greatly underestimate the impact that a comment or quick gesture of approval has on employees. They'll spend weeks trying to tweak an annual bonus program or some other compensation system, believing that their employees are coin-operated, but they'll neglect to stop someone during a meeting and say, “Hey, that's a fantastic example of hunger. We should all try to be more like that.” I'm not saying that compensation doesn't matter. But if we want to create a culture of humility, hunger, and smarts, the best way to do it is to constantly be catching people exhibiting those virtues and publicly holding them up as examples. No balloons, pastries, or plastic tchotchkes are necessary, just genuine, in-the-moment appreciation.
Patrick Lencioni (The Ideal Team Player: How to Recognize and Cultivate The Three Essential Virtues (J-B Lencioni Series))
I’m about to head out the door to meet Hannah for coffee. Laura has texted asking if I want to take another improv course with her next month, and I’ve said yes. I’m reading the next book for our book club. Paul and his girlfriend are coming over for dinner next week. Sam and I are going to make Thanksgiving at ours an annual tradition. Claude and I are email pen pals now, and he always signs off, ‘I hope that you are well and that you do nice things,’ which I like very much. Lily and Vivian are trying to persuade me to perform comedy again. Probably I’ll just go along to their gigs and cheer them on. And there’s nothing wrong with that. I have a tiny little social life. A new way to experience the world when I want to. I really like my comfort zone, but I also know I’ll be OK if I leap into the unknown or the scary for a little while.
Jessica Pan (Sorry I'm Late, I Didn't Want to Come: An Introvert's Year of Living Dangerously)
Tho' I seldom attended any public worship, I had still an opinion of its propriety, and of its utility when rightly conducted, and I regularly paid my annual subscription for the support of the only Presbyterian minister or meeting we had in Philadelphia. He us'd to visit me sometimes as a friend, and admonished me to attend his administrations, and I was now and then prevail'd on to do so, once for five Sundays successively. Had he been in my opinion a good preacher, perhaps I might have continued, [65] notwithstanding the occasion I had for the Sunday's leisure in my course of study; but his discourses were chiefly either polemic arguments, or explications of the peculiar doctrines of our sect, and were all to me very dry, uninteresting, and unedifying, since not a single moral principle was inculcated or enforc'd, their aim seeming to be rather to make us Presbyterians than good citizens. At length he took for his text that verse of the fourth chapter of Philippians, "Finally, brethren, whatsoever things are true, honest, just, pure, lovely, or of good report, if there be any virtue, or any praise, think on these things." And I imagin'd, in a sermon on such a text, we could not miss of having some morality. But he confin'd himself to five points only, as meant by the apostle, viz.: 1. Keeping holy the Sabbath day. 2. Being diligent in reading the holy Scriptures. 3. Attending duly the publick worship. 4. Partaking of the Sacrament. 5. Paying a due respect to God's ministers. These might be all good things; but, as they were not the kind of good things that I expected from that text, I despaired of ever meeting with them from any other, was disgusted, and attended his preaching no more.
Benjamin Franklin (Autobiography of Benjamin Franklin)
Do you really think that the Revolution is a ridiculous proposition? That we cannot engineer our own structures? What's ridiculous is the system we have now. If we were starting society anew, who among us would propose a monarchy, an aristocracy, a financial elite that exploits the earth and farms its population? If at one of the local or regional meetings that we have to govern our community someone proposed, instead of equality, that all of us, including the poorest among us, donated a percentage of our income to a super-rich family with a little old lady at its helm who would turn up annually in our parliament, draped in jewels and finery, to tell us that austerity had to continue, you'd tell them they were mental. If someone said that we should give 64 per cent of British land to 0.28 per cent of the population, we would not vote for it. If trade agreements were proposed that meant local businesses were shackled so that transnational corporations could create a farcical tyrannical economy where produce was needlessly transported around the world for their gain and to the detriment of everyone else, it would be forbidden. If energy companies said they wanted to be run for huge profit, without regulation, whilst harming the environment, we wouldn't allow it. That pharmaceutical and food companies could run their own governing bodies, flood the world with inferior and harmful products that damage and even kill the people that use them, we would not tolerate it. Here is the truth they fight so hard to suppress: to create a better world, the priority is not the implementation of new systems, though that is necessary, it is a refusal to cooperate with the obsolete and harmful structures that are already in place.
Russell Brand (Revolution)
It is not accurate to call [the Bollinger Club dinner] an annual event, because quite often the Club is suspended for some years after each meeting. There is tradition behind the Bollinger; it numbers reigning kings among its past members. At the last dinner, three years ago, a fox had been brought in in a cage and stoned to death with champagne bottles. What an evening that had been! This was the first meeting since then, and from all over Europe old members had rallied for the occasion. For two days they had been pouring into Oxford: epileptic royalty from their villas of exile; uncouth peers from crumbling country seats; smooth young men of uncertain tastes from embassies and legations; illiterate lairds from wet granite hovels in the Highlands; ambitious young barristers and Conservative candidates torn from the London season and the indelicate advances of debutantes; all that was most sonorous of name and title was there for the beano.
Evelyn Waugh (Decline and Fall)
REGULARLY ATTEND AN ANNUAL security conference in Halifax, Nova Scotia. The only thing unusual about the November 2016 meeting was that it occurred just after the U.S. presidential election, and most of the formal and informal conversations among the conferees were about what to expect from the President-elect, Donald Trump. The subject was causing consternation among the governments, military, and intelligentsia of the West, including ours. I spent most of my time in Halifax reassuring friends that the United States government consists of more than the White House. Congress and, I hoped, the people the new President would appoint to senior national security positions would provide continuity in U.S. foreign policy, compensate for the lack of experience in the Oval Office, and restrain the occupant from impulsively reacting to world events. Saturday evening, when the day’s presentations were finished, a retired British diplomat, who had served as the United Kingdom’s ambassador to Russia during
John McCain (The Restless Wave: Good Times, Just Causes, Great Fights, and Other Appreciations)
397] There are other cycles, of course, cycles within cycles -- and this is just that which creates such a difficulty in the calculations of racial events. The circuit of the ecliptic is completed in 25,868 years. And, with regard to our Earth, it is calculated that the equinoctial point falls back fifty minutes ten seconds, annually. But there is another cycle within this one. It is said that "as the apsis goes forward to meet it at the rate of eleven minutes twenty-four seconds, annually," (see the article on Astronomy in Encyclopaedia Britannica), "this would complete a revolution in one hundred and fifteen thousand three hundred and two years (115,302). The approximation of the equinox and the apsis is the sum of these motions, sixty-one minutes thirty-four seconds, and hence the equinox returns to the same position in relation to the apsis in 21,128 years." We have mentioned this cycle in Isis Unveiled, Vol. I., in relation to other cycles. Each has a marked influence on its contemporary race. [398] See at the end of this Stanza
Helena Petrovna Blavatsky (The Secret Doctrine - Volume II, Anthropogenesis)
As we’ve seen, one of the most frequently pursued paths for achievement-minded college seniors is to spend several years advancing professionally and getting trained and paid by an investment bank, consulting firm, or law firm. Then, the thought process goes, they can set out to do something else with some exposure and experience under their belts. People are generally not making lifelong commitments to the field in their own minds. They’re “getting some skills” and making some connections before figuring out what they really want to do. I subscribed to a version of this mind-set when I graduated from Brown. In my case, I went to law school thinking I’d practice for a few years (and pay down my law school debt) before lining up another opportunity. It’s clear why this is such an attractive approach. There are some immensely constructive things about spending several years in professional services after graduating from college. Professional service firms are designed to train large groups of recruits annually, and they do so very successfully. After even just a year or two in a high-level bank or consulting firm, you emerge with a set of skills that can be applied in other contexts (financial modeling in Excel if you’re a financial analyst, PowerPoint and data organization and presentation if you’re a consultant, and editing and issue spotting if you’re a lawyer). This is very appealing to most any recent graduate who may not yet feel equipped with practical skills coming right out of college. Even more than the professional skill you gain, if you spend time at a bank, consultancy, or law firm, you will become excellent at producing world-class work. Every model, report, presentation, or contract needs to be sophisticated, well done, and error free, in large part because that’s one of the core value propositions of your organization. The people above you will push you to become more rigorous and disciplined, and your work product will improve across the board as a result. You’ll get used to dressing professionally, preparing for meetings, speaking appropriately, showing up on time, writing official correspondence, and so forth. You will be able to speak the corporate language. You’ll become accustomed to working very long hours doing detail-intensive work. These attributes are transferable to and helpful in many other contexts.
Andrew Yang (Smart People Should Build Things: How to Restore Our Culture of Achievement, Build a Path for Entrepreneurs, and Create New Jobs in America)
Article V For the most convenient management of the general interests of the United States, delegates shall be annually appointed in such manner as the legislatures of each State shall direct, to meet in Congress on the first Monday in November, in every year, with a powerreserved to each State to recall its delegates, or any of them, at any time within the year, and to send others in their stead for the remainder of the year. No State shall be represented in Congress by less than two, nor more than seven members; and no person shall be capable of being a delegate for more than three years in any term of six years; nor shall any person, being a delegate, be capable of holding any office under the United States, for which he, or another for his benefit, receives any salary, fees or emolument of any kind. Each State shall maintain its own delegates in a meeting of the States, and while they act as members of the committee of the States. In determining questions in the United States in Congress assembled, each State shall have one vote. Freedom of speech and debate in Congress shall not be impeached or questioned in any court or place out of Congress, and the members of Congress shall be protected in their persons from arrests or imprisonments, during the time of their going to and from, and attendence on Congress, except for treason, felony, or breach of the peace.
Benjamin Franklin (The Articles of Confederation)
This Compost" Something startles me where I thought I was safest, I withdraw from the still woods I loved, I will not go now on the pastures to walk, I will not strip the clothes from my body to meet my lover the sea, I will not touch my flesh to the earth as to other flesh to renew me. O how can it be that the ground itself does not sicken? How can you be alive you growths of spring? How can you furnish health you blood of herbs, roots, orchards, grain? Are they not continually putting distemper'd corpses within you? Is not every continent work'd over and over with sour dead? Where have you disposed of their carcasses? Those drunkards and gluttons of so many generations? Where have you drawn off all the foul liquid and meat? I do not see any of it upon you to-day, or perhaps I am deceiv'd, I will run a furrow with my plough, I will press my spade through the sod and turn it up underneath, I am sure I shall expose some of the foul meat. 2 Behold this compost! behold it well! Perhaps every mite has once form'd part of a sick person—yet behold! The grass of spring covers the prairies, The bean bursts noiselessly through the mould in the garden, The delicate spear of the onion pierces upward, The apple-buds cluster together on the apple-branches, The resurrection of the wheat appears with pale visage out of its graves, The tinge awakes over the willow-tree and the mulberry-tree, The he-birds carol mornings and evenings while the she-birds sit on their nests, The young of poultry break through the hatch'd eggs, The new-born of animals appear, the calf is dropt from the cow, the colt from the mare, Out of its little hill faithfully rise the potato's dark green leaves, Out of its hill rises the yellow maize-stalk, the lilacs bloom in the dooryards, The summer growth is innocent and disdainful above all those strata of sour dead. What chemistry! That the winds are really not infectious, That this is no cheat, this transparent green-wash of the sea which is so amorous after me, That it is safe to allow it to lick my naked body all over with its tongues, That it will not endanger me with the fevers that have deposited themselves in it, That all is clean forever and forever, That the cool drink from the well tastes so good, That blackberries are so flavorous and juicy, That the fruits of the apple-orchard and the orange-orchard, that melons, grapes, peaches, plums, will none of them poison me, That when I recline on the grass I do not catch any disease, Though probably every spear of grass rises out of what was once a catching disease. Now I am terrified at the Earth, it is that calm and patient, It grows such sweet things out of such corruptions, It turns harmless and stainless on its axis, with such endless successions of diseas'd corpses, It distills such exquisite winds out of such infused fetor, It renews with such unwitting looks its prodigal, annual, sumptuous crops, It gives such divine materials to men, and accepts such leavings from them at last.
Walt Whitman
Mattis and Gary Cohn had several quiet conversations about The Big Problem: The president did not understand the importance of allies overseas, the value of diplomacy or the relationship between the military, the economy and intelligence partnerships with foreign governments. They met for lunch at the Pentagon to develop an action plan. One cause of the problem was the president’s fervent belief that annual trade deficits of about $500 billion harmed the American economy. He was on a crusade to impose tariffs and quotas despite Cohn’s best efforts to educate him about the benefits of free trade. How could they convince and, in their frank view, educate the president? Cohn and Mattis realized they were nowhere close to persuading him. The Groundhog Day–like meetings on trade continued and the acrimony only grew. “Let’s get him over here to the Tank,” Mattis proposed. The Tank is the Pentagon’s secure meeting room for the Joint Chiefs of Staff. It might focus him. “Great idea,” Cohn said. “Let’s get him out of the White House.” No press; no TVs; no Madeleine Westerhout, Trump’s personal secretary, who worked within shouting distance of the Oval Office. There wouldn’t even be any looking out the window, because there were no windows in the Tank. Getting Trump out of his natural environment could do the trick. The idea was straight from the corporate playbook—a retreat or off-site meeting. They would get Trump to the Tank with his key national security and economic team to discuss worldwide strategic relations. Mattis and Cohn agreed. Together they would fight Trump on this. Trade wars or disruptions in the global markets could savage and undermine the precarious stability in the world. The threat could spill over to the military and intelligence community. Mattis couldn’t understand why the U.S. would want to pick a fight with allies, whether it was NATO, or friends in the Middle East, or Japan—or particularly with South Korea.
Bob Woodward (Fear: Trump in the White House)
In 1786, Jefferson, then the American ambassador to France, and Adams, then the American ambassador to Britain, met in London with Sidi Haji Abdul Rahman Adja, the ambassador to Britain. The Americans wanted to negotiate a peace treaty based on Congress’ vote to appease. During the meeting Jefferson and Adams asked the ambassador why Muslims held so much hostility towards America, a nation with which they had no previous contacts. In a later meeting with the American Congress, the two future presidents reported that Ambassador Sidi Haji Abdul Rahman Adja had answered that Islam “was founded on the Laws of their Prophet, that it was written in their Qur’an that all nations who should not have acknowledged their authority were sinners, that it was their right and duty to make war upon them wherever they could be found, and to make slaves of all they could take as Prisoners, and that every Musselman (Muslim) who should be slain in Battle was sure to go to Paradise.” For the following 15 years, the American government paid the Muslims millions of dollars for the safe passage of American ships or the return of American hostages. Most Americans do not know that the payments in ransom and Jizyah tribute amounted to 20 percent of United States government annual revenues in 1800. Not long after Jefferson’s inauguration as president in 1801, he dispatched a group of frigates to defend American interests in the Mediterranean, and informed Congress. Declaring that America was going to spend “millions for defense but not one cent for tribute,” Jefferson pressed the issue by deploying American Marines and many of America’s best warships to the Muslim Barbary Coast. The USS Constitution, USS Constellation, USS Philadelphia, USS Chesapeake, USS Argus, USS Syren and USS Intrepid all fought. In 1805, American Marines marched across the dessert from Egypt into Tripolitania, forcing the surrender of Tripoli and the freeing of all American slaves. During the Jefferson administration, the Muslim Barbary States, crumbled as a result of intense American naval bombardment and on shore raids by Marines. They finally agreed officially to abandon slavery and piracy. Jefferson’s victory over the Muslims lives on today in the Marine Hymn with the line “From the halls of Montezuma to the shores of Tripoli, we will fight our country’s battles on the land as on the sea.” It wasn’t until 1815 that the problem was fully settled by the total defeat of all the Muslim slave trading pirates.
Walid Shoebat (God's War on Terror: Islam, Prophecy and the Bible)
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” George Bernard Shaw On a cool fall evening in 2008, four students set out to revolutionize an industry. Buried in loans, they had lost and broken eyeglasses and were outraged at how much it cost to replace them. One of them had been wearing the same damaged pair for five years: He was using a paper clip to bind the frames together. Even after his prescription changed twice, he refused to pay for pricey new lenses. Luxottica, the 800-pound gorilla of the industry, controlled more than 80 percent of the eyewear market. To make glasses more affordable, the students would need to topple a giant. Having recently watched Zappos transform footwear by selling shoes online, they wondered if they could do the same with eyewear. When they casually mentioned their idea to friends, time and again they were blasted with scorching criticism. No one would ever buy glasses over the internet, their friends insisted. People had to try them on first. Sure, Zappos had pulled the concept off with shoes, but there was a reason it hadn’t happened with eyewear. “If this were a good idea,” they heard repeatedly, “someone would have done it already.” None of the students had a background in e-commerce and technology, let alone in retail, fashion, or apparel. Despite being told their idea was crazy, they walked away from lucrative job offers to start a company. They would sell eyeglasses that normally cost $500 in a store for $95 online, donating a pair to someone in the developing world with every purchase. The business depended on a functioning website. Without one, it would be impossible for customers to view or buy their products. After scrambling to pull a website together, they finally managed to get it online at 4 A.M. on the day before the launch in February 2010. They called the company Warby Parker, combining the names of two characters created by the novelist Jack Kerouac, who inspired them to break free from the shackles of social pressure and embark on their adventure. They admired his rebellious spirit, infusing it into their culture. And it paid off. The students expected to sell a pair or two of glasses per day. But when GQ called them “the Netflix of eyewear,” they hit their target for the entire first year in less than a month, selling out so fast that they had to put twenty thousand customers on a waiting list. It took them nine months to stock enough inventory to meet the demand. Fast forward to 2015, when Fast Company released a list of the world’s most innovative companies. Warby Parker didn’t just make the list—they came in first. The three previous winners were creative giants Google, Nike, and Apple, all with over fifty thousand employees. Warby Parker’s scrappy startup, a new kid on the block, had a staff of just five hundred. In the span of five years, the four friends built one of the most fashionable brands on the planet and donated over a million pairs of glasses to people in need. The company cleared $100 million in annual revenues and was valued at over $1 billion. Back in 2009, one of the founders pitched the company to me, offering me the chance to invest in Warby Parker. I declined. It was the worst financial decision I’ve ever made, and I needed to understand where I went wrong.
Adam M. Grant (Originals: How Non-Conformists Move the World)
Adventists urged to study women’s ordination for themselves Adventist Church President Ted N. C. Wilson appealed to members to study the Bible regarding the theology of ordination as the Church continues to examine the matter at Annual Council next month and at General Conference Session next year. Above, Wilson delivers the Sabbath sermon at Annual Council last year. [ANN file photo] President Wilson and TOSC chair Stele also ask for prayers for Holy Spirit to guide proceedings September 24, 2014 | Silver Spring, Maryland, United States | Andrew McChesney/Adventist Review Ted N. C. Wilson, president of the Seventh-day Adventist Church, appealed to church members worldwide to earnestly read what the Bible says about women’s ordination and to pray that he and other church leaders humbly follow the Holy Spirit’s guidance on the matter. Church members wishing to understand what the Bible teaches on women’s ordination have no reason to worry about where to start, said Artur A. Stele, who oversaw an unprecedented, two-year study on women’s ordination as chair of the church-commissioned Theology of Ordination Study Committee. Stele, who echoed Wilson’s call for church members to read the Bible and pray on the issue, recommended reading the study’s three brief “Way Forward Statements,” which cite Bible texts and Adventist Church co-founder Ellen G. White to support each of the three positions on women’s ordination that emerged during the committee’s research. The results of the study will be discussed in October at the Annual Council, a major business meeting of church leaders. The Annual Council will then decide whether to ask the nearly 2,600 delegates of the world church to make a final call on women’s ordination in a vote at the General Conference Session next July. Wilson, speaking in an interview, urged each of the church’s 18 million members to prayerfully read the study materials, available on the website of the church’s Office of Archives, Statistics, and Research. "Look to see how the papers and presentations were based on an understanding of a clear reading of Scripture,” Wilson said in his office at General Conference headquarters in Silver Spring, Maryland. “The Spirit of Prophecy tells us that we are to take the Bible just as it reads,” he said. “And I would encourage each church member, and certainly each representative at the Annual Council and those who will be delegates to the General Conference Session, to prayerfully review those presentations and then ask the Holy Spirit to help them know God’s will.” The Spirit of Prophecy refers to the writings of White, who among her statements on how to read the Bible wrote in The Great Controversy (p. 598), “The language of the Bible should be explained according to its obvious meaning, unless a symbol or figure is employed.” “We don’t have the luxury of having the Urim and the Thummim,” Wilson said, in a nod to the stones that the Israelite high priest used in Old Testament times to learn God’s will. “Nor do we have a living prophet with us. So we must rely upon the Holy Spirit’s leading in our own Bible study as we review the plain teachings of Scripture.” He said world church leadership was committed to “a very open, fair, and careful process” on the issue of women’s ordination. Wilson added that the crucial question facing the church wasn’t whether women should be ordained but whether church members who disagreed with the final decision on ordination, whatever it might be, would be willing to set aside their differences to focus on the church’s 151-year mission: proclaiming Revelation 14 and the three angels’ messages that Jesus is coming soon. 3 Views on Women’s Ordination In an effort to better understand the Bible’s teaching on ordination, the church established the Theology of Ordination Study Committee, a group of 106 members commonly referred to by church leaders as TOSC. It was not organized
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