I think it's healthy to be insecure, to have nerves.
By investing at a discount, Benjamin Graham knew that he was unlikely to experience losses.
Selling, in particular, can be a challenge; many investors are tempted to become more optimistic when a security is performing well. This temptation must be resisted; tax considerations aside, when a security reaches full valuation, there is no longer a reason to own it.
Value in relation to price, not price alone, must determine your investment decisions. If you look to Mr Market as a creator of investment opportunities (where price departs from underlying value), you have the makings of a value investor. If you insist on looking to Mr Market for investment guidance however, you are probably best advised to hire someone else to manage your money.
The inability to hold cash and the pressure to be fully invested at all times meant that when the plug was pulled out of the tub, all boats dropped as the water rushed down the drain.
When excesses such as lax lending standards become widespread and persist for some time, people are lulled into a false sense of security, creating an even more dangerous situation. In some cases, excesses migrate beyond regional or national borders, raising the ante for investors and governments. These excesses will eventually end, triggering a crisis at least in proportion to the degree of the excesses. Correlations between asset classes may be surprisingly high when leverage rapidly unwinds.
Be sure that you are well compensated for illiquidity - especially illiquidity without control - because it can create particularly high opportunity costs.
Let your family, staff, and friends know that you're still the same person, despite all the publicity and notoriety that accompanies your position.
I think the craziest thing I heard, and this guy's not even nominated, he's from Texas. . . he said there's no reason that women shouldn't carry a stillborn baby to term, and that it's an excuse to have an abortion if she doesn't want to. She should just let nature take its course from start to finish. Literally forcing birth of a fetus that died in the womb.
We have been maintaining a standard of living by putting things on the debt of the next generation.
My advice to graduates is to stay positive. Life is short, and you'll be dead soon.