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.
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Smart People
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Investment Performance
Performance is what happens when events collide with an existing portfolio.
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Doing Something That People Said Would Never Be Done
The greatest pleasure I’ve had is to try to do something that people said would never be done.
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Subtractive Epistemology
The most robust contribution to knowledge consists in removing what we think is wrong—subtractive epistemology.
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Reading All The Time
In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time – none, zero.
