Category: Notes

If all your colleagues have tried to demonstrate that something’s true and failed, it might be because that thing is not true.

– Richard Feynman

Nations that forget their history lack the power to create it.

– Narendra Modi

We will make electricity so cheap that only the rich will burn candles.

– Thomas Edison

Voltaire thought that history is the record of the crimes and absurdities of mankind. I thought that was a very unworthy definition. I should say history is the record of the activities of mankind and it has two sides — one is the crimes and absurdities and the other is the contributions to civilization, the lasting developments which enabled each generation to proceed with a larger heritage than the one before. And that to me is the meaning of history.

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Price means nothing other than the equilibrium of liquidity.

– John Burbank

Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios, which frequently appear downright imprudent in the eyes of conventional wisdom.

– David Swensen

It doesn’t make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.

– Steve Jobs

Performance is what happens when events collide with an existing portfolio.

– Howard Marks

The greatest pleasure I’ve had is to try to do something that people said would never be done.

– Ratan Tata