Portfolios Quotes

I remember Guillermo saying the cracks and breaks were the best and most interesting parts of the work in my portfolio. Perhaps it’s the same with people and their cracks and breaks.

Greed is not defined by what something costs; it is measured by what it costs you. If anything costs you your faith or your family, the price is too high. Such is the point Jesus makes in the parable of the portfolio.

Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.

God never asked us to meet life's pressures and demands on our own terms or by relying upon our own strength. Nor did He demands that we win His favor by assembling an impressive portfolio of good deeds. Instead, He invites us to enter His rest.

Don’t tell me what you think, tell me what you have in your portfolio.

The religions in my portfolio weren't useless after all, he thought, the power flowing from him and remaking the world. None of them were. They weren't all true. But they all had truth.

Civilized people must, I believe, satisfy the following criteria: 1) They respect human beings as individuals and are therefore always tolerant, gentle, courteous and amenable ... They do not create scenes over a hammer or a mislaid eraser; they do not make you feel they are conferring a great benefit on you when they live with you, and they don't make a scandal when they leave. (...) 2) They have compassion for other people besides beggars and cats. Their hearts suffer the pain of what is hidden to the naked eye. (...) 3) They respect other people's property, and therefore pay their debts. 4) They are not devious, and they fear lies as they fear fire. They don't tell lies even in the most trivial matters. To lie to someone is to insult them, and the liar is diminished in the eyes of the person he lies to. Civilized people don't put on airs; they behave in the street as they would at home, they don't show off to impress their juniors. (...) 5) They don't run themselves down in order to provoke the sympathy of others. They don't play on other people's heartstrings to be sighed over and cosseted ... that sort of thing is just cheap striving for effects, it's vulgar, old hat and false. (...) 6) They are not vain. They don't waste time with the fake jewellery of hobnobbing with celebrities, being permitted to shake the hand of a drunken [judicial orator], the exaggerated bonhomie of the first person they meet at the Salon, being the life and soul of the bar ... They regard prases like 'I am a representative of the Press!!' -- the sort of thing one only hears from [very minor journalists] -- as absurd. If they have done a brass farthing's work they don't pass it off as if it were 100 roubles' by swanking about with their portfolios, and they don't boast of being able to gain admission to places other people aren't allowed in (...) True talent always sits in the shade, mingles with the crowd, avoids the limelight ... As Krylov said, the empty barrel makes more noise than the full one. (...) 7) If they do possess talent, they value it ... They take pride in it ... they know they have a responsibility to exert a civilizing influence on [others] rather than aimlessly hanging out with them. And they are fastidious in their habits. (...) 8) They work at developing their aesthetic sensibility ... Civilized people don't simply obey their baser instincts ... they require mens sana in corpore sano. And so on. That's what civilized people are like ... Reading Pickwick and learning a speech from Faust by heart is not enough if your aim is to become a truly civilized person and not to sink below the level of your surroundings. [From a letter to Nikolay Chekhov, March 1886]

Mayflower-Plymouth is a company, and it's an ecosystem. We are an Investment Holdings company that holds mostly small and medium sized businesses in our portfolio. And we also provide a variety of resources and business services such as consulting - in the interest of helping businesses to be better.

Here's some more stuff we're going to need." 1 pair coveralls 1 extension ladder (30 foot) 1 glass cutter 1 artist's portfolio (large) 1 water pistol 1 bottle india ink 1 portable trampoline (collapsible) 1 bicycle w/basket 4 pizza boxes Jonah whistled. "I hope you've got some crazy evil-genius strategy, 'cause–straight up–I don't get it.

Remember, love is all a woman has to give, but it is the only thing which God permits us to carry beyond the grave.

What the hell does it all mean anyhow? Nothing. Zero. Zilch. Nothing comes to anything. And yet, there's no shortage of idiots to babble. Not me. I have a vision. I'm discussing you. Your friends. Your coworkers. Your newspapers. The TV. Everybody's happy to talk. Full of misinformation. Morality, science, religion, politics, sports, love, your portfolio, your children, health. Christ, if I have to eat nine servings of fruits and vegetables a day to live, I don't wanna live. I hate goddamn fruits and vegetables. And your omega 3's, and the treadmill, and the cardiogram, and the mammogram, and the pelvic sonogram, and oh my god the-the-the colonoscopy, and with it all the day still comes where they put you in a box, and its on to the next generation of idiots, who'll also tell you all about life and define for you what's appropriate. My father committed suicide because the morning newspapers depressed him. And could you blame him? With the horror, and corruption, and ignorance, and poverty, and genocide, and AIDS, and global warming, and terrorism, and-and the family value morons, and the gun morons. "The horror," Kurtz said at the end of Heart of Darkness, "the horror." Lucky Kurtz didn't have the Times delivered in the jungle. Ugh... then he'd see some horror. But what do you do? You read about some massacre in Darfur or some school bus gets blown up, and you go "Oh my God, the horror," and then you turn the page and finish your eggs from the free range chickens. Because what can you do. It's overwhelming!

It’s not possible for investors to consistently outperform the market. Therefore you’re best served investing in a diversified portfolio of low-cost index funds [or exchange-traded funds].

Children whose families take them to museums and zoos, who visit historic sites, who travel abroad, or who camp in remote areas accumulate huge chunks of background knowledge without even studying. For the impoverished child lacking the travel portfolio of affluence, the best way to accumulate background knowledge is by either reading or being read to.

Being a highlighter is about constantly searching for the good in people. When you tell people they are good, they become better. When you search for what’s good, you feel great.

You’re not your grades. You’re not your test scores or your college application or even your portfolio.

A portfolio that exists in service to God is a portfolio blessed by God.

We believe in active portfolio management but not aggressive portfolio management.

Effective scaling requires clear strategy. Nature has provided us with a portfolio of growth applications to learn from and our job as business leaders is to be strategic with that.

You added yourself to my contacts list?’ I gasp. When did he do that? I mentally sprint through our meeting, settling on my visit to the toilet when I left my portfolio and phone on the table. I can’t believe he went through my phone! ‘I need to be able to get hold of you.

Wesley went everywhere with me from then on. I even wrapped him in baby blankets and held him in my arms while grocery shopping, to keep him warm during the first cold winter. Occasionally someone would ask to see "the baby," and when I opened the blanket, would leap back shrieking, "What is that?! A dinosaur?" Apparently, the world is full of educated adults with mortgages and stock portfolios who think people are walking around grocery stores with dinosaurs in their arms.

Indefinite attitudes to the future explain what’s most dysfunctional in our world today. Process trumps substance: when people lack concrete plans to carry out, they use formal rules to assemble a portfolio of various options. This describes Americans today. In middle school, we’re encouraged to start hoarding “extracurricular activities.” In high school, ambitious students compete even harder to appear omnicompetent. By the time a student gets to college, he’s spent a decade curating a bewilderingly diverse résumé to prepare for a completely unknowable future. Come what may, he’s ready—for nothing in particular.

When money is pooled together, it has a greater impact. A million dollars has more impact than one hundred thousand dollars. One hundred ETH has more impact than ten ETH. The more money, the greater the impact.

The typical big winner in the Lynch portfolio (I continue to pick my share of losers, too!) generally takes three to ten years or more to play out.

Portfolio resilience protects assets from loss.

A business that doesn’t respect human life, animal life and the ecosystem of our planet earth… that’s a business we don’t want in our portfolio. If the business does more harm than good, facilitates more death than life, and causes more destruction than creation… then we view them as a bad investment.

Nature doesn’t hedge by betting for and against the same things. Nature hedges by cultivating resilience. At Mayflower-Plymouth we aim to hedge by cultivating resilience in our portfolios.

Hey, Red.” I greeted her with a cocky grin. “Can’t stay away from me, huh? Don’t blame you.” I gestured at myself. “Look at all this.” I was still shirtless from the shower, and I didn’t want to brag or anything, but my abs were a fucking work of art. “If I knew you had company, I would’ve waited,” she said dryly. She was carrying a large portfolio bag, which was strange, since she didn’t draw. Maybe she went shopping earlier. “Wouldn’t want to interrupt your weekly lovefest with your ego.” “Daily,” I corrected. “Self-love is critical to maintaining one’s self-esteem. But you’re hot, so you’re allowed to interrupt.

All growth toward perfection is but a returning to original existence.

At Mayflower-Plymouth, we have a unique approach to minimizing risk in our portfolios. We approach risk holistically.

Start a personal blog and begin developing a public reputation and public portfolio of work that’s not tied to your employer.

The religions in my portfolio weren’t useless after all, he thought, the power flowing from him and remaking the world. None of them were. They weren’t all true. But they all had truth.

As soon as one stops searching for knowledge, or if one imagines that it need not be creatively sought in the depths of the human spirit but can be assembled extensively by collecting and classifying facts, everything is irrevocably and forever lost.

Next to physical survival, the greatest need of a human being is psychological survival—to be understood, to be affirmed, to be validated, to be appreciated. —Stephen Covey

Half of all U.S. mutual fund portfolio managers do not invest a cent of their own money in their funds, according to Morningstar.69 This might seem atrocious, and surely the statistic uncovers some hypocrisy.

Investing money is the process of committing resources in a strategic way to accomplish a specific objective.

The wise study the numbers and their ways. The wise count their movements and their stays.

Nature is great at hedging investments. Nature doesn’t hedge by betting for and against the same things. Nature hedges by cultivating resilience.

Just as in financial investing, you must invest in your knowledge portfolio regularly.

Invest in building a happy life. Create a portfolio of memories. Those are the most valuable assets. They’re priceless investments. And they’ll never go down in value.

The key to financial freedom and great wealth is a person’s ability to convert earned income into passive and/or portfolio income.

Investment Portfolios should be actively managed.

It's always stimulating to visit new places, acquire fresh knowledge and expand your portfolio of nightmares.

Permaculture Capital Stewardship, or Permaculture Investing, is about not just having a diversified portfolio, but having a portfolio where all of the assets within the portfolio have synergy and whereby that synergy is channeled toward maximized productivity for both shareholders and stakeholders. A permaculture investment portfolio has a multiplicative value effect.

When you try to be the same as everyone else, it’s boring. When you try to fit into a mold, you become forgettable. When you try to be “normal,” you become dull. Just be yourself, because no one is like you. If you’re a little weird, own it. The right people will like you for it.

Ultimately, incentive structures and systems drive ESG investing, which can be disingenuous. Structurally, public market investors continue to focus on the incentives which maximize their financial returns, even while taking certain ESG inputs into account in their portfolio allocations. Only by regulating and incentivizing the actual outcomes might investors alter their investment strategies towards new rewards based on ESG outputs.

Missing this year’s Career Exam will be humiliating. Usually, a company sponsors suitable candidates regarding the exam fee. But landing on such sponsorship without a valid portfolio is impossible. And there are more. The valid portfolio has to be acknowledged by the ones whom you will reach through another valid chain of recommendations.

The rise and fall of Teresa Cornelys proves three things: that the wages of sin are high, that you should “just say no” to opera, and that it’s always wise to diversify your investment portfolio.

And of course Brian was far more upset about separation from those two blond moppets than about leaving Louise. There shouldn't be any problem loving both, but for some reason certain men choose; like good mutual-fund managers minimizing risk while maximizing portfolio yield, they take everything they once invested in their wives and sink it into their children instead. What is it? Do they seem safer, because they need you? Because you can never become their ex-father, as I think I might become your ex-wife?

This is a Lucent PBX with Audix voice mail, right? I used this kind at all of my old jobs, so I'm pretty familiar with them." Completely ignoring me, Pat continues to demonstrate every single one of the phone's features, half of which she describes incorrectly. I don't bother taking notes because I've used this system a thousand times. I have no need to transcribe an erroneous refresher course. "Hey, you should be writing this down." Like I said, I've used this system extensively and--" WRITE IT DOWN," Pat growls. "If you screw up the phone, Jerry's gonna be on my ass." No problem." I'm slowly learning to choose my battles and figure this isn't the hill I want to die on. I pull a portfolio out of my briefcase and begin to take notes. When the phone rings and Jerry isn't there to answer, you pick it up and hold it to your mouth like this. You say, 'Hello, Jerry Jenkins' office.'" I write: When phone rings, place receiver next to your word hole and not your hoo-hoo or other bodily aperature, and say, "Shalom.

forward-thinking teachers and school administrators across the country are creating a whole range of alternatives to cookie-cutter teaching and evaluation methods, such as the use of student portfolios and exhibitions in addition to conventional exams to assess students' progress.

I try to be a good investment to God. All the good things he’s given me, I aim to multiply and return to him and his purposes a maximum ROI. I’m just a tree in his fruit garden aiming to produce good fruit.

For even if we know very little that is certain about spirit or soul, the true nature of the body, of materiality, is totally unknown and incomprehensible to us.

As we said, even the best venture investors have a portfolio, but investors who understand the power law make as few investments as possible.

senior managers’ goal here should be to manage their portfolio of businesses to wisely balance between profitable growth and cash flow at a given point in time.

At Mayflower-Plymouth, we view a portfolio as an ecosystem.

If you find yourself stimulated in any way by your portfolio performance, then you are probably doing something very wrong. A superior portfolio strategy should be intrinsically boring.

And the whole mess had been made possible by middle America’s relentless appetite— for bigger houses, bigger portfolios, bigger government programs, bigger everything, and damn the long-term cost.

Christians are God's delivery people, through whom he does his giving to a needy world. We are conduits of God's grace to others. Our eternal investment portfolio should be full of the most strategic kingdom-building projects to which we can disburse God's funds.

Little sleep, no investment portfolio, no family around, no hot water. On an evening a few days after arriving in Cange, I wondered aloud what compensation he got for these various hardships. He told me, “If you’re making sacrifices, unless you’re automatically following some rule, it stands to reason that you’re trying to lessen some psychic discomfort. So, for example, if I took steps to be a doctor for those who don’t have medical care, it could be regarded as a sacrifice, but it could also be regarded as a way to deal with ambivalence.” He went on, and his voice changed a little. He didn’t bristle, but his tone had an edge: “I feel ambivalent about selling my services in a world where some can’t buy them. You can feel ambivalent about that, because you should feel ambivalent. Comma.” This was for me one of the first of many encounters with Farmer’s

We do not need to be rational and scientific when it comes to the details of our daily life—only in those that can harm us and threaten our survival. Modern life seems to invite us to do the exact opposite; become extremely realistic and intellectual when it comes to such matters as religion and personal behavior, yet as irrational as possible when it comes to matters ruled by randomness (say, portfolio or real estate investments). I have encountered colleagues, “rational,” no-nonsense people, who do not understand why I cherish the poetry of Baudelaire and Saint-John Perse or obscure (and often impenetrable) writers like Elias Canetti, J. L. Borges, or Walter Benjamin. Yet they get sucked into listening to the “analyses” of a television “guru,” or into buying the stock of a company they know absolutely nothing about, based on tips by neighbors who drive expensive cars.

What a strange power there is in woman! She comes in contact with a genius without portfolio, an exceptionally useless implement like me, and then, without any preaching on her part, he feels himself in duty bound to do all sorts of things he never dreamed of doing before. The

Markets fluctuate and markets can be unpredictable at times. This is why having a resilient portfolio is critical. Growth without resilience only ends in extreme loss. But resilience protects assets from loss.

But the simple truth is this: the more complex an investment is, the less likely it is to be profitable. Index funds outperform actively managed funds in large part simply because actively managed funds require expensive active managers. Not only are they prone to making investing mistakes, their fees are a continual performance drag on the portfolio.

Happiness is so nonsynonymous with joy or pleasure that it is not infrequently sought and felt in grief and deprivation.

Whether we like to admit it or not, we decide if we like someone, if we trust someone, and if we want a relationship with someone within the first few seconds of meeting them.

Hitler's unusually improvisational and personal style of leadership, which created constant responsibility conflicts and an anarchic tangle of offices and portfolios, was anything but an expression of political incompetence. On the contrary, it served to make Hitler's own supremacy essentially unassailable.

Basically, we view a portfolio in the same way that a gardener views a garden. Every business or asset in our portfolio is like a plant in a gardeners garden and is subject to similar expectations; growth, purpose, and productivity.

Many investors have a homogeneous view of portfolio diversification. They’re thinking about large cap vs small cap vs equity vs bonds. And that’s important, but nature views diversification much more holistically. And at Mayflower-Plymouth, so do we.

The difference between an explanation and an excuse lies with the one receiving it.

There is an African proverb that says: If you want to go fast, go alone. If you want to go far, go together.

Managing a portfolio is like managing a garden. You don’t just want different kinds of plants in your garden. You want those different plants to have synergy and to work together harmoniously to maximize productivity. In the same way, when different elements in the portfolio have synergy and work together to help each other maximize individual productivity, their collective yields can then be reinvested to maximize the productivity of the whole portfolio. There’s a compounding effect and a multiplicative value effect that takes place with the permaculture investing approach.

Vulnerability is sexy—it shows we are relatable, honest, and real. That is attractive. And the science proves it: “A blunder tends to humanize him and, consequently, increases his attractiveness.”5

When Private Equity is approached from an ecosystem perspective, businesses in the portfolio can be led to create multiplicative value effects; with other businesses in the portfolio being primary additional beneficiaries, thereby amplifying profitability among several the businesses in the ecosystem.

Venice appeared to me as in a recurring dream, a place once visited and now fixed in memory like images on a photographer’s plates so that my return was akin to turning the leaves of a portfolio: a scene of the gondolas moored by the railway station; the Grand Canal in twilight; the Rialto bridge; the Piazza San Marco; the shimmering, rippling wonderland; the bustling water traffic; the fish market; the Lido beach and boardwalk; Teeny in the launch; the singing, gesturing gondoliers; the bourgeois tourists drinking coffee at Florian’s; the importunate beggars; the drowned girl’s ghost haunting the Bridge of Sighs; the pigeons, mosquitoes and fetor of decay.

Quincy and Fisher walked through all this in silence. Silence was the most common stock-in-trade between them, and the portfolio of their friendship was thick with it. So, without words, they stepped across the streets, their feet pressing the pavement with the same sounds, their toes turned just so; they knew what life was like at each other's side. Sometimes he would speak, or she would, small offerings on the altar of their joint survival.

In the mutual fund industry, for example, the annual rate of portfolio turnover for the average actively managed equity fund runs to almost 100 percent, ranging from a hardly minimal 25 percent for the lowest turnover quintile to an astonishing 230 percent for the highest quintile. (The turnover of all-stock-market index funds is about 7 percent.)

I hate babies with trendy names like Tiffany and Britney and Heather and Noah and Blake and Justin. I’m sick of Olivia and Chloe and Eva and Madison. I hope Aiden and Jayden and Braden and Graden all suffer minor head injuries while reading Dr. Seuss. Enough already with the cutesy-poo baby names. What happened to John and Dave and Sue? Babies with trendy names grow up to be adults with ridiculous names. “This is our CEO, Micah.” “You know what, Micah? I want my money back. I’m closing my portfolio. I’m going with Michael. He’s a grown-up.” One day all of these trendy-named children will grow up and become parents and then grandparents, and it’s all wrong. Grandma Tori? Zayda Jared? Nana Savannah?

how do you get, maintain, and multiply attention in a scalable and efficient way?

One way to improve efficiency is to streamline processes according to schedules, required inputs and expected outputs.

Human nature must be something which always remains one and the same, but which may be carried out in manifold ways.

the genes of modern-day Africans are a treasure house for all humanity. They possess our species’ greatest reservoir of genetic diversity, of which further study will shed new light on the heredity of the human body and mind. Perhaps the time has come, in light of this and other advances in human genetics, to adopt a new ethic of racial and hereditary variation, one that places value on the whole of diversity rather than on the differences composing the diversity. It would give proper measure to our species’ genetic variation as an asset, prized for the adaptability it provides all of us during an increasingly uncertain future. Humanity is strengthened by a broad portfolio of genes that can generate new talents, additional resistance to diseases, and perhaps even new ways of seeing reality. For scientific as well as for moral reasons, we should learn to promote human biological diversity for its own sake instead of using it to justify prejudice and conflict.

life is not a portfolio: not for a startup founder, and not for any individual. An entrepreneur cannot “diversify” herself: you cannot run dozens of companies at the same time and then hope that one of them works out well. Less obvious but just as important, an individual cannot diversify his own life by keeping dozens of equally possible careers in ready reserve.

McAdoo and Graham were discussing that most essential characteristic of great entrepreneurs: mental toughness, the ability to overcome the hurdles and negativity that typically accompany something new. McAdoo and his partners had identified this kind of true grit as the most important attribute in the founders of their successful portfolio companies, like Google and PayPal.

Everyone knows about market risk and management risk. But there are a variety of non obvious risks to consider when managing a portfolio of investments. They include political risk, share premiums and discounts risk, Interest Rate risk, Income Risk, Tax law changes risk, valuation risk, and liquidity risk, among others. This is why professional active portfolio management is the way to go.

If your business asset has expenses that are directly correlated to revenues and they take up a big percentage of revenues, and you determine that it is not possible or practical to reduce the expenses or increase the associated revenues for that asset - you have two options: If in totality the assets revenues are greater than its expenses, keep the asset and do not get rid of it. Small profit margins are better than no profit margins and this asset is adding value to your business’s portfolio. If the assets expenses are greater than its revenues, then it is actually not an asset and any decisions made about it should be made with this realization in mind.

It is an absolutely vain endeavor to attempt to reconstruct or even comprehend the nature of a human being by simply knowing the forces which have acted upon him. However deeply we should like to penetrate, however close we seem to be drawing to truth, one unknown quantity eludes us: man's primordial energy, his original self, that personality which was given him with the gift of life itself. On it rests man's true freedom; it alone determines his real character.

I asked him once what he believed to be the basic flaw in the character of Germans, and he replied “obedience.” When I consider the ghastly orders obeyed by underlings of Columbus, or of Aztec priests supervising human sacrifices, or of senile Chinese bureaucrats wishing to silence unarmed, peaceful protesters in Tiananmen Square only three years ago as I write, I have to wonder if obedience isn’t the basic flaw in most of humankind.

Slavery is not a horror safely confined to the past; it continues to exist throughout the world, even in developed countries like France and the United States. Across the world slaves work and sweat and build and suffer. Slaves in Pakistan may have made the shoes you are wearing and the carpet you stand on. Slaves in the Caribbean may have put sugar in your kitchen and toys in the hands of your children. In India they may have sewn the shirt on your back and polished the ring on your finger. They are paid nothing. Slaves touch your life indirectly as well. They made the bricks for the factory that made the TV you watch. In Brazil slaves made the charcoal that tempered the steel that made the springs in your car and the blade on your lawnmower. Slaves grew the rice that fed the woman that wove the lovely cloth you've put up as curtains. Your investment portfolio and your mutual fund pension own stock in companies using slave labor in the developing world. Slaves keep your costs low and returns on your investments high.

The fee asset managers charge is for the value they provide. If a farmer grows a fruiting tree, you pay him more for the tree than you would pay him for just a seedling. Why? Because of the effort, energy and skill the farmer put into growing that tree plus the added value of the income (fruit) that tree provides are a testament to the farmers value add and he deserves to be compensated for that value add. It’s the same kind of thing with the 2 & 20 you pay the portfolio manager.

students need only two well-taught courses—How to Value a Business, and How to Think About Market Prices. Your goal as an investor should simply be to purchase, at a rational price, a part interest in an easily-understandable business whose earnings are virtually certain to be materially higher five, ten and twenty years from now. Over time, you will find only a few companies that meet these standards—so when you see one that qualifies, you should buy a meaningful amount of stock. You must also resist the temptation to stray from your guidelines: If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio’s market value. Though it’s seldom recognized, this is the exact approach

The most realistic distinction between the investor and the speculator is found in their attitude toward stock-market movements. The speculator’s primary interest lies in anticipating and profiting from market fluctuations. The investor’s primary interest lies in acquiring and holding suitable securities at suitable prices. Market movements are important to him in a practical sense, because they alternately create low price levels at which he would be wise to buy and high price levels at which he certainly should refrain from buying and probably would be wise to sell. It is far from certain that the typical investor should regularly hold off buying until low market levels appear, because this may involve a long wait, very likely the loss of income, and the possible missing of investment opportunities. On the whole it may be better for the investor to do his stock buying whenever he has money to put in stocks, except when the general market level is much higher than can be justified by well-established standards of value. If he wants to be shrewd he can look for the ever-present bargain opportunities in individual securities. Aside from forecasting the movements of the general market, much effort and ability are directed on Wall Street toward selecting stocks or industrial groups that in matter of price will “do better” than the rest over a fairly short period in the future. Logical as this endeavor may seem, we do not believe it is suited to the needs or temperament of the true investor—particularly since he would be competing with a large number of stock-market traders and first-class financial analysts who are trying to do the same thing. As in all other activities that emphasize price movements first and underlying values second, the work of many intelligent minds constantly engaged in this field tends to be self-neutralizing and self-defeating over the years. The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored. He should never buy a stock because it has gone up or sell one because it has gone down. He would not be far wrong if this motto read more simply: “Never buy a stock immediately after a substantial rise or sell one immediately after a substantial drop.” An

Behind your reaction is a feeling that whatever is 'true' must be able to be expressed logically. Men, in particular, have a tendency to confuse correct logic with an accurate assessment of a situation. Be careful of any situation that you have to reason through logically, because if you have to work to reason it out, you're probably missing something.

At Mayflower-Plymouth, we analyze global markets, analyze businesses and employ a range of strategies that emulate natural ecosystems to deliver holistic and industry-consistent investment returns. Our approach emphasizes preservation, steady compounding growth and steady returns for our capital partners and clients.

Investment Owner’s Contract I, _____________ ___________________, hereby state that I am an investor who is seeking to accumulate wealth for many years into the future. I know that there will be many times when I will be tempted to invest in stocks or bonds because they have gone (or “are going”) up in price, and other times when I will be tempted to sell my investments because they have gone (or “are going”) down. I hereby declare my refusal to let a herd of strangers make my financial decisions for me. I further make a solemn commitment never to invest because the stock market has gone up, and never to sell because it has gone down. Instead, I will invest $______.00 per month, every month, through an automatic investment plan or “dollar-cost averaging program,” into the following mutual fund(s) or diversified portfolio(s): _________________________________, _________________________________, _________________________________. I will also invest additional amounts whenever I can afford to spare the cash (and can afford to lose it in the short run). I hereby declare that I will hold each of these investments continually through at least the following date (which must be a minimum of 10 years after the date of this contact): _________________ _____, 20__. The only exceptions allowed under the terms of this contract are a sudden, pressing need for cash, like a health-care emergency or the loss of my job, or a planned expenditure like a housing down payment or a tuition bill. I am, by signing below, stating my intention not only to abide by the terms of this contract, but to re-read this document whenever I am tempted to sell any of my investments. This contract is valid only when signed by at least one witness, and must be kept in a safe place that is easily accessible for future reference.

One reason nature is efficient is because there is no waste. Everything produced creates value for others and is consumed by others on the basis of value. What one life may discard as not valuable is consumed by another life because of its valuable. And all things produced and consumed are continually upcycled, becoming more valuable each cycle. Perhaps it’s because nature has a capital-centric view of things; everything in nature is capital and produces capital which to varying degrees provides value to all other things in nature. Imagine if economies worked like this. Imagine if investment portfolios worked like this. Imagine if businesses worked like this. What a beautiful world it would be.

I carried with me into the West End Bar, the White Horse Tavern, a long list of things I would never do: I would never have my hair set in a beauty parlor. I would never move to a suburb and bake cakes or make casseroles. I would never go to a country club dance, although I did like the paper lanterns casting rainbow colors on the terrace. I would never invest in the stock market. I would never play canasta. I would never wear pearls. I would love like a nursling but I would never go near a man who had a portfolio or a set of golf clubs or a business or even a business suit. I would only love a wild thing. I didn't care if wild things tended to break hearts. I didn't care if they substituted scotch for breakfast cereal. I understood that wild things wrote suicide notes to the gods and were apt to show up three hours later than promised. I understood that art was long and life was short.

When you reach our age, Vasily, it all goes by so quickly. Whole seasons seem to pass without leaving the slightest mark on our memory.” “How true…, “ agreed the concierge (as he sorted through an allotment of tickets). “But surely, there is comfort to be taken from that,” continued the Count. “For even as the weeks begin racing by in a blur for us, they are making the greatest of impressions upon our children. When one turns seventeen and begins to experience that first period of real independence, one’s senses are so alert, one’s sentiments so finely attuned that every conversation, every look, every laugh may be writ indelibly upon one’s memory. And the friends that one happens to make in those impressionable years? One will meet them forever after with a welling of affection.”… “Perhaps it is a matter of celestial balance,” he reflected. “A sort of cosmic equilibrium. Perhaps the aggregate experience of Time is a constant and thus for our children to establish such vivid impressions of this particular June, we must relinquish our claims upon it.” “So that they might remember, we must forget,” Vasily summed up. “Exactly!” said the Count. “So that they might remember, we must forget. But should we take umbrage at that fact? Should we feel short-changed by the notion that their experiences for the moment may be richer than ours? I think not. For it is hardly our purpose at this late stage to log a new portfolio of lasting memories. Rather, we should be dedicating ourselves to ensuring that they taste freely of experience. And we must do so without trepidation. Rather than tucking in blankets and buttoning up coats, we must have faith in them to tuck and button on their own. And if they fumble with their newfound liberty, we must remain composed, generous, judicious. We must encourage them to venture out from under our watchful gaze, and then sigh with pride when they pass at last through the revolving door of life…

The options also were a way of shifting enormous risk from Renaissance to the banks. Because the lenders technically owned the underlying securities in the basket-options transactions, the most Medallion could lose in the event of a sudden collapse was the premium it had paid for the options and the collateral held by the banks. That amounted to several hundred million dollars. By contrast, the banks faced billions of dollars of potential losses if Medallion were to experience deep troubles. In the words of a banker involved in the lending arrangement, the options allowed Medallion to “ring-fence” its stock portfolios, protecting other parts of the firm, including Laufer’s still-thriving futures trading, and ensuring Renaissance’s survival in the event something unforeseen took place. One staffer was so shocked by the terms of the financing that he shifted most of his life savings into Medallion, realizing the most he could lose was about 20 percent of his money.

Among the people to whom he belonged, nothing was written or talked about at that time except the Serbian war. Everything that the idle crowd usually does to kill time, it now did for the benefit of the Slavs: balls, concerts, dinners, speeches, ladies' dresses, beer, restaurants—all bore witness to our sympathy with the Slavs. With much that was spoken and written on the subject Konyshev did not agree in detail. He saw that the Slav question had become one of those fashionable diversions which, ever succeeding one another, serve to occupy Society; he saw that too many people took up the question from interested motives. He admitted that the papers published much that was unnecessary and exaggerated with the sole aim of drawing attention to themselves, each outcrying the other. He saw that amid this general elation in Society those who were unsuccessful or discontented leapt to the front and shouted louder than anyone else: Commanders-in-Chief without armies, Ministers without portfolios, journalists without papers, and party leaders without followers. He saw that there was much that was frivolous and ridiculous; but he also saw and admitted the unquestionable and ever-growing enthusiasm which was uniting all classes of society, and with which one could not help sympathizing. The massacre of our coreligionists and brother Slavs evoked sympathy for the sufferers and indignation against their oppressors. And the heroism of the Serbs and Montenegrins, fighting for a great cause, aroused in the whole nation a desire to help their brothers not only with words but by deeds. Also there was an accompanying fact that pleased Koznyshev. It was the manifestation of public opinion. The nation had definitely expressed its wishes. As Koznyshev put it, ' the soul of the nation had become articulate.' The more he went into this question, the clearer it seemed to him that it was a matter which would attain enormous proportions and become epoch-making.

Methinks, Oh! vain ill-judging Book, I see thee cast a wishful look, Where reputations won and lost are In famous row called Paternoster. Incensed to find your precious olio Buried in unexplored port-folio, You scorn the prudent lock and key, And pant well bound and gilt to see Your Volume in the window set Of Stockdale, Hookham, or Debrett. Go then, and pass that dangerous bourn Whence never Book can back return: And when you find, condemned, despised, Neglected, blamed, and criticised, Abuse from All who read you fall, (If haply you be read at all Sorely will you your folly sigh at, And wish for me, and home, and quiet. Assuming now a conjuror’s office, I Thus on your future Fortune prophesy: — Soon as your novelty is o’er, And you are young and new no more, In some dark dirty corner thrown, Mouldy with damps, with cobwebs strown, Your leaves shall be the Book-worm’s prey; Or sent to Chandler–Shop away, And doomed to suffer public scandal, Shall line the trunk, or wrap the candle! But should you meet with approbation, And some one find an inclination To ask, by natural transition Respecting me and my condition; That I am one, the enquirer teach, Nor very poor, nor very rich; Of passions strong, of hasty nature, Of graceless form and dwarfish stature; By few approved, and few approving; Extreme in hating and in loving; Abhorring all whom I dislike, Adoring who my fancy strike; In forming judgements never long, And for the most part judging wrong; In friendship firm, but still believing Others are treacherous and deceiving, And thinking in the present aera That Friendship is a pure chimaera: More passionate no creature living, Proud, obstinate, and unforgiving, But yet for those who kindness show, Ready through fire and smoke to go. Again, should it be asked your page, ‘Pray, what may be the author’s age?’ Your faults, no doubt, will make it clear, I scarce have seen my twentieth year, Which passed, kind Reader, on my word, While England’s Throne held George the Third. Now then your venturous course pursue: Go, my delight! Dear Book, adieu!