Icon Stock Quotes

He wondered, often, what it would look like if and when the shit in question hit the fan: The stock market at bottom was rigged. The icon of global capitalism was a fraud.

I’m not going to worry about losing one friend if I have a hundred, but if I have two friends I’m really going to be worried. I’m not going to worry about losing my job because my one boss is going to fire me, because I have thousands of bosses at newspapers everywhere. One of the ways to not worry about stress is to eliminate it. I don’t worry about my stock picks because I have a diversified portfolio. Diversification works in almost every area of your life to reduce your stress.

He wondered, often, what it would look like if and when the shit in question hit the fan: The stock market at bottom was rigged. The icon of global capitalism was a fraud. How would enterprising politicians and plaintiffs’ lawyers and state attorneys general respond to that news?

At first glance, the stewardess appears to have been a reflection of conservative postwar gender roles—an impeccable airborne incarnation of the mythical homemaker of the 1950s who would happily abandon work to settle down with Mr. Right. A high-flying expert at applying lipstick, warming baby bottles, and mixing a martini, the stewardess was popularly imagined as the quintessential wife to be. Dubbed the “typical American girl,” this masterful charmer—known for pampering her mostly male passengers while maintaining perfect poise (and straight stocking seams) thirty thousand feet above sea level—became an esteemed national heroine for her womanly perfection. But while the the stewardess appears to have been an airborne Donna Reed, a closer look reveals that she was also popularly represented as a sophisticated, independent, ambitious career woman employed on the cutting edge of technology. This iconic woman in the workforce was in a unique position to bring acceptance and respect to working women by bridging the gap between the postwar domestic ideal and wage work for women. As both the apotheosis of feminine charm and American careerism, the stewardess deftly straddled the domestic ideal and a career that took her far from home. Ultimately, she became a crucial figure in paving the way for feminism in America.

Meanwhile, people are busy using fractals to explain any system that has defied other, more reductionist approaches. Since they were successfully applied by IBM's Benoit Mandlebrot to the problem of seemingly random, intermittent interference on the phone lines, fractals have been used to identify underlying patterns in weather systems, computer files, and bacteria cultures. Sometimes fractal enthusiasts go a bit too far, however, using these nonlinear equations to mine for patterns in systems where none exist. Applied to the stock market to consumer behavior, fractals may tell less about those systems than about the people searching for patterns within them. There is a dual nature to fractals: They orient us while at the same time challenging our sense of scale and appropriateness. They offer us access to the underlying patterns of complex systems while at the same time tempting us to look for patterns where none exist. This makes them a terrific icon for the sort of pattern recognition associated with present shock—a syndrome we'll call factalnoia. Like the robots on Mystery Science Theater 3000, we engage by relating one thing to another, even when the relationship is forced or imagined. The tsunami makes sense once it is connected to chemtrails, which make sense when they are connected to HAARP. It's not just conspiracy theorists drawing fractalnoid connections between things. In a world without time, any and all sense making must occur on the fly. Simultaneity often seems like all we have. That's why anyone contending with present shock will have a propensity to make connections between things happening in the same moment—as if there had to be an underlying logic.

Learning to meditate helped too. When the Beatles visited India in 1968 to study Transcendental Meditation at the ashram of Maharishi Mahesh Yogi, I was curious to learn it, so I did. I loved it. Meditation has benefited me hugely throughout my life because it produces a calm open-mindedness that allows me to think more clearly and creatively. I majored in finance in college because of my love for the markets and because that major had no foreign language requirement—so it allowed me to learn what I was interested in, both inside and outside class. I learned a lot about commodity futures from a very interesting classmate, a Vietnam veteran quite a bit older than me. Commodities were attractive because they could be traded with very low margin requirements, meaning I could leverage the limited amount of money I had to invest. If I could make winning decisions, which I planned to do, I could borrow more to make more. Stock, bond, and currency futures didn’t exist back then. Commodity futures were strictly real commodities like corn, soybeans, cattle, and hogs. So those were the markets I started to trade and learn about. My college years coincided with the era of free love, mind-expanding drug experimentation, and rejection of traditional authority. Living through it had a lasting effect on me and many other members of my generation. For example, it deeply impacted Steve Jobs, whom I came to empathize with and admire. Like me, he took up meditation and wasn’t interested in being taught as much as he loved visualizing and building out amazing new things. The times we lived in taught us both to question established ways of doing things—an attitude he demonstrated superbly in Apple’s iconic “1984” and “Here’s to the Crazy Ones,” which were ad campaigns that spoke to me. For the country as a whole, those were difficult years. As the draft expanded and the numbers of young men coming home in body bags soared, the Vietnam War split the country. There was a lottery based on birthdates to determine the order of those who would be drafted. I remember listening to the lottery on the radio while playing pool with my friends. It was estimated that the first 160 or so birthdays called would be drafted, though they read off all 366 dates. My birthday was forty-eighth.

On Diversification for Stress Management The below came from me asking, “What advice would you give your 30-year-old self?”: “My 30-year-old self wouldn’t have access to medical marijuana, so I’d have a limited canvas with which to paint. I’ve always made it a top priority since I was a teenager—and had tons of stress-related medical problems—to make that job one: to learn how to not have stress. I would consider myself a world champion at avoiding stress at this point in dozens of different ways. A lot of it is just how you look at the world, but most of it is really the process of diversification. I’m not going to worry about losing one friend if I have a hundred, but if I have two friends I’m really going to be worried. I’m not going to worry about losing my job because my one boss is going to fire me, because I have thousands of bosses at newspapers everywhere. One of the ways to not worry about stress is to eliminate it. I don’t worry about my stock picks because I have a diversified portfolio. Diversification works in almost every area of your life to reduce your stress.

I’m not sure anyone still says gadzooks, but it was from God’s hooks—the nails used in Jesus’s crucifixion. We can see Odds bodkins emerging from “God’s body” in Shakespeare: Henry IV, Part II has a line “God’s body! The turkeys in my pannier are quite starved.” (It’s not one of Shakespeare’s more iconic lines.) The Bard added the “cutesifying” suffix -kin later when Hamlet says, “God’s bodykins, man, much better. Use every man after his desert, and who should ’scape whipping?” Leaving off the g and y, then, yields the queer little locution Odds bodkins! we now vaguely associate with men in stockings fencing on staircases (or at least I do).

In Money: Master the Game, Ray Dalio elaborated for Tony: “When people think they’ve got a balanced portfolio, stocks are three times more volatile than bonds. So when you’re 50/50, you’re really 90/10. You really are massively at risk, and that’s why when the markets go down, you get eaten alive. . . . Whatever asset class you invest in, I promise you, in your lifetime, it will drop no less than 50% and more likely 70% at some point. That is why you absolutely must diversify.

to learn how to not have stress. I would consider myself a world champion at avoiding stress at this point in dozens of different ways. A lot of it is just how you look at the world, but most of it is really the process of diversification. I’m not going to worry about losing one friend if I have a hundred, but if I have two friends I’m really going to be worried. I’m not going to worry about losing my job because my one boss is going to fire me, because I have thousands of bosses at newspapers everywhere. One of the ways to not worry about stress is to eliminate it. I don’t worry about my stock picks because I have a diversified portfolio. Diversification works in almost every area of your life to reduce your stress.

Warren Buffett is one of the most successful investors of the 20th century and a self-described “value investor.” He aims to buy stocks at a discount (below intrinsic value), so that even with a worst-case scenario, he can do well. This discount is referred to as the “margin of safety,” and it’s the bedrock principle of some of the brightest minds in the investing world (e.g., Seth Klarman). It doesn’t guarantee a good investment, but it allows room for error.

One day, they made a rule: ‘Either we would be “in”, or we would quit. But if we decided to continue, we would be “in” for a whole month. So, once we were in, we would be in it for a month and we would not question ourselves on what we were doing throughout the whole month. And then at the end of the month we would take stock.