Author

Nate

“A Philosopher is a person who loves wisdom and is dedicated to the search for meaning. The pursuit of wisdom is an active, unending process of discovery. The true philosopher is filled with the passion to understand, a process that never ends.”

Posts by Nate

… the best solution for illiquidity is to build portfolios for the long term that don’t rely on liquidity for success. Long-term investors have an advantage over those with short timeframes (and I think the latter describes the majority of market participants these days). Patient investors are able to ignore short-term performance, hold for the long run, and avoid excessive trading costs, while everyone else worries about what’s going to happen in the next month or quarter and therefore trades excessively. In addition, long-term investors can take advantage if illiquid assets become available for purchase at bargain prices

… the best solution for illiquidity is to build portfolios for the long term that don’t rely on liquidity for success. Long-term investors have an advantage over those with short timeframes (and I think the latter describes the majority of market participants these days). Patient investors are able to ignore short-term performance, hold for the long run, and avoid excessive trading costs, while everyone else worries about what’s going to happen in the next month or quarter and therefore trades excessively. In addition, long-term investors can take advantage if illiquid assets become available for purchase at bargain prices

— Howard Marks (https://www.oaktreecapital.com/docs/default-source/memos/selling-out.pdf)

It seems to me what is called for is an exquisite balance between two conflicting needs: the most skeptical scrutiny of all hypotheses that are served up to us and at the same time a great openness to new ideas. Obviously those two modes of thought are in some tension. But if you are able to exercise only one of these modes, whichever one it is, you’re in deep trouble

It seems to me what is called for is an exquisite balance between two conflicting needs: the most skeptical scrutiny of all hypotheses that are served up to us and at the same time a great openness to new ideas. Obviously those two modes of thought are in some tension. But if you are able to exercise only one of these modes, whichever one it is, you’re in deep trouble

— Carl Sagan

I notice that when all a man’s information is confined to the field in which he is working, the work is never as good as it ought to be. A man has to get a perspective, and he can get it from books or from people — preferably from both. This thing of sleeping and eating with your business can easily be overdone; it is all well enough—usually necessary—in times of trouble but as a steady diet it does not make for good business; a man ought now and then to get far enough away to have a look at himself and his affairs.

I notice that when all a man’s information is confined to the field in which he is working, the work is never as good as it ought to be. A man has to get a perspective, and he can get it from books or from people — preferably from both. This thing of sleeping and eating with your business can easily be overdone; it is all well enough—usually necessary—in times of trouble but as a steady diet it does not make for good business; a man ought now and then to get far enough away to have a look at himself and his affairs.

— Harvey S. Firestone (written in 1926) (T/H to Farnam Street)

Tony Hendra on John Belushi …

Tony Hendra on John Belushi …

— From documentary Belushi @ 1:04:40

”He was a very American-like force. I felt that what made you laugh about John was peculiarly American. The raw energy of this country was summed up in the way he hit the stage, but at the same time I always felt that there is an enormous void at the center of America, a void that has to do with promise and disappointment and impossible expectations.

Behind all this energy comes what? The American dream is ultimately just a dream. When you finally get where you are going, what then?”

I don’t want to “learn fast”, in any subject. I don’t want shortcuts. If I don’t enjoy the subject, I don’t want to learn it; and if I enjoy it, I want to prolong the pleasure. I avoid what exam-takers do: I trade speed for depth.

I don’t want to “learn fast”, in any subject. I don’t want shortcuts. If I don’t enjoy the subject, I don’t want to learn it; and if I enjoy it, I want to prolong the pleasure. I avoid what exam-takers do: I trade speed for depth.

— Nassim Taleb

… there is a very fine line between audacious dreams and wildly deceptive lies. And history suggests that on which side one settles is entirely mood-dependent. When confidence is rising, we dream. And when it falls, we fully reveal the illusion.

… there is a very fine line between audacious dreams and wildly deceptive lies. And history suggests that on which side one settles is entirely mood-dependent. When confidence is rising, we dream. And when it falls, we fully reveal the illusion.

— Peter Atwater