Self-absorption intensifies isolation, but permits it to go unnoticed.
I think markets will never be efficient because of human nature.
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.
Growing up, all I did was work and vacation, but I loved it, no one pushed me into anything. The thing was I developed no special skills. I don't have any resentment because I am a performer and I've always felt that, but it did take its toll socially.
If nothing were left of an extinct race but a single button, I would be able to infer, form the shape of that button, how these people dressed, built their houses, how they lived, what was their religion, their art, their mentality.
I feel there's a power in theatre, but it's an indirect power. It's like the relationship of the sleeper to the unconscious. You discover things you can't afford to countenance in waking life. You can forget them, remember them a day later or not have any idea what they are about.
The Ego’s job is to kill everything but itself