LA Samayoa

Investment Professional | Seeking Wisdom | Other people are trying to act smarter. I'm just trying to be non-idiotic. -Munger

[F. A. Hayek Quotes @FAHayekSays]

Ludwig von Mises, Hayek’s early mentor, wrote one of the most brutal takedowns of socialism ever:

“The champions of socialism ... call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent.

They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau.”

[LA Samayoa @LASamayoa]

A wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the overabundance of information sources that might consume it.
-Herbert A. Simon

[LA Samayoa @LASamayoa]

Intellectuals are naturally seduced by the idea of a planned society, because they think they will be in charge of it.
-Roger Scruton

[LA Samayoa @LASamayoa]

The impression has built up that the stock market is the cause of booms and busts. Actually, it is the thermometer – not the fever.
–Bernard Baruch

[LA Samayoa @LASamayoa]

Conservatism starts from a sentiment that all mature people can readily share: the sentiment that good things are easily destroyed, but not easily created. -Sir Roger Scruton

[LA Samayoa @LASamayoa]

To admit error and cut losses is rare among individuals, unknown among states. -Barbara W. Tuchman

[LA Samayoa @LASamayoa]

We are what we repeatedly do. Excellence, then, is not an act but a habit. -Will Durant paraphrasing Aristotle

[LA Samayoa @LASamayoa]

Calm beats rage. Control beats pride. -John Malone

[Eitan Fischberger @EFischberger]

Here’s the full address just delivered by Utah’s @GovCox .

It is, quite honestly, one of the most powerful speeches I’ve ever heard from a politician, or anyone, for that matter.

Please sit down for 10 minutes and listen. You won’t regret it, I promise.

[LA Samayoa @LASamayoa]

Money managers are like a bunch of cod fishermen after all the cod has been overfished. They don’t catch a lot of cod, but they keep on fishing in the same waters. -Charlie Munger

[LA Samayoa @LASamayoa]

A lot of the old moats are going away,
and of course, people are creating new moats all the time. Nature of capitalism. It’s like evolution and biology. -Charlie Munger

[LA Samayoa @LASamayoa]

The fact that people will be full of greed, fear, or folly is predictable. The sequence is not predictable. -Warren Buffett

[LA Samayoa @LASamayoa]

Who you associate with is enormously important. And don’t expect to make every decision right on that. But your life is going to progress in the general direction of the people you work with, admire, and befriend. -Warren Buffett

[LA Samayoa @LASamayoa]

The library should contain as much of what you do not know as your financial means… allow you to put there. -Nassim Taleb

The value of a library lies not in what you know, but in the humility of all you have yet to learn.

[Fareed Zakaria @FareedZakaria]

President Trump’s tariffs are a capricious, destructive and dumb use of American power.

His 19th century fantasy might well end up dragging America back to what it was then — a poorer country marginal to the great currents of global economics and politics.

My take:

[LA Samayoa @LASamayoa]

Liberty is liberty, not equality or fairness or justice or culture, or human happiness or a quiet conscience. -Isaiah Berlin

[Ryan Holiday @RyanHoliday]

"Those who have a 'why' to live, can bear with almost any 'how'."
— Viktor E. Frankl

[LA Samayoa @LASamayoa]

Ratan Tata: “One seems to learn much more during difficult times, so perhaps one should not be averse to them.”

[LA Samayoa @LASamayoa]

One of the lessons your management has learned - and, unfortunately, sometimes re-learned - is the importance of being in businesses where tailwinds prevail rather than headwinds. -Warren Buffett (1977)