What I Think I Know
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What I Think I Know

“Just trying to do the hardest thing of all – to understand”

If this is the worst thing that happened to you in your life, you got a very lucky, blessed and fortunate life 

If this is the worst thing that happened to you in your life, you got a very lucky, blessed and fortunate life 

March 11, 2022 Nate

— Gregg Popovich


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In their classic 1934 text, Security Analysis, Benjamin Graham and David Dodd described “investment” as buying a security at a valuation that is associated with a reasonable expectation of acceptable long-term returns, based on a careful analysis of the relationship between the current price and expected future cash flows. In contrast, “speculation” means buying a security on the expectation that its price will advance. If you are not using well-defined and historically reliable valuation measures as a basis for investment, and you don’t have a well-defined and historically validated basis on which to expect speculative behavior from other investors, you’re probably gambling. 
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We write for the same reason that we walk, talk, climb mountains or swim the oceans — because we can. We have some impulse within us that makes us want to explain ourselves to other human beings. That’s why we paint, that’s why we dare to love someone- because we have the impulse to explain who we are. Not just how tall we are, or thin… but who we are internally… perhaps even spiritually. There’s something, which impels us to show our inner-souls. The more courageous we are, the more we succeed in explaining what we know.
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