Buffett shared some of his thoughts on the market today.
"There are times when opportunities are just thrown at you so fast you can't... And then there's other times when you're very, very lucky if you find one thing in a couple of years."
Average investors feel the need to always be doing something. They force trades even when valuations are bad because they conflate activity with productivity.
"Since humans love to gamble so much, there's more money in actually cultivating gamblers than there are cultivating investors... If somebody bought Berkshire 50 years ago, a guy would have made one commission."
The modern financial ecosystem is designed to trigger your dopamine receptors and encourage over-trading. Alpha is generated by strictly ignoring the financial noise and refusing to transact frequently.
Soccer is the most European of sports because while the athletes are real and there is actual activity, the final outcomes are determined by procedural manipulation of random bureaucrats
Viral video out of Yellowstone National Park shows an elderly man being launched eight feet into the air after a bison charged him from nearly 300 feet away, covering the distance in seconds.
Imagine surviving and even thriving after being strapped into a $1.88 Sears, “hope harness” only to grow up and get blamed for everything by generations after you. #boomers
* Sears Catalog, 1961.
It was 10 years ago today my best mate James came running out of the room shouting, "It's a boy!" with tears streaming down his face.
We never went back to Thailand.
IRAN'S SUPREME LEADER MOJTABA KHAMENEI, IN WRITTEN MESSAGE, SAYS REVENGE FOR HIS SLAIN PREDECESSOR AND FATHER IS DEMAND OF THE NATION AND 'MUST CERTAINLY' TAKE PLACE
IRAN'S SUPREME LEADER: WE PLEDGE TO AVENGE 'BLOOD OF THE MARTYRED LEADER AND ALL THE MARTYRS OF THESE TWO WARS FROM THE CRIMINAL AND DISGRACED PERPETRATORS'