The correct investment philosophy

  • To climb steep hills requires slow pace at first. — William Shakespeare
  • When valor preys on reason, it eats the sword it fights with.– William Shakespeare
  • Patience is bitter but its fruit is sweet.– French Proverb

This time it’s different

  • Present fears are less than horrible imaginings.– William Shakespeare
  • The more things change, the more they stay the same.– French Proverb (attributed to Jean-Baptiste Alphonse Karr, a 19th century author)

The Impact of Trends, Cycles and Market Timing

  • There is a tide in the affairs of men which, taken at the flood, leads on to fortune.– William Shakespeare

Handling Financial Setbacks

  • Let me embrace thee, sour adversity, for wise men say it is the wisest course. — William Shakespeare
  • Our greatest glory is not in never falling but in rising every time we fall.– Confucius
  • Insanity: doing the same thing over and over again and expecting different results.– Albert Einstein.
  • Many of the things you can count, don’t count. Many of the things you can’t count, really count.

Conventional Wisdom

  • As far as the laws of mathematics refer to reality, they are not certain; and as far as they are certain, they do not refer to reality.– Albert Einstein.
  • Whoever undertakes to set himself up as a judge of Truth and Knowledge is shipwrecked by the laughter of the gods.– Albert Einstein.

Derivatives, CMO’s, CDO’s and complex econometric modelling

  • Any intelligent fool can make things bigger and more complex… It takes a touch of genius — and a lot of courage to move in the opposite direction..– Albert Einstein

The Issue of Patent Protection

  • The secret to creativity is knowing how to hide your sources.– Albert Einstein

On Choosing a Financial Advisor

  • Sometimes one pays most for the things one gets for nothing.– Albert Einstein
  • A fool despises good counsel, but a wise man takes it to heart.– Confucius
  • I have no particular talent. I am merely inquisitive.– Albert Einstein
  • Everything should be made as simple as possible, but not simpler.– Albert Einstein
  • Only a life lived for others is a life worth while.– Albert Einstein