If you understood a business perfectly and the future of the business, you would need very little in the way of a margin of safety. So, the more vulnerable the business is, assuming you still want to invest in it, the larger margin of safety you'd need. If you're driving a truck across a bridge that says it holds 10,000 pounds and you've got a 9,800 pound vehicle, if the bridge is 6 inches above the crevice it covers, you may feel okay, but if it's over the Grand Canyon, you may feel you want a little larger margin of safety.
I am always interested in the ways of scoring the sound of the poem, especially a poem with long lines. Spaces within a line, double colons, slashes, are indications of pause, of breath, of urgency, they are not metrically exact as in a musical notation but they serve (I hope) to make the reader think about the sound of the poem - just as traffic symbols, when driving, make us almost unconsciously aware of a steep hill, an intersection, an icy bridge etc.
There are people who are so presumptuous that they know no other way to praise a greatness that they publicly admire than by representing it as a preliminary stage and bridge leading to themselves.
My advice to African leaders is to make sure that if, in fact, China is putting in roads and bridges, number one, that they are hiring African workers; number two, that the roads don't just lead from the mine to the port to Shanghai.
In the firm expectation that when London shall be a habitation of bitterns, when St. Paul and Westminster Abbey shall stand shapeless and nameless ruins in the midst of an unpeopled marsh, when the piers of Waterloo Bridge shall become the nuclei of islets of reeds and osiers, and cast the jagged shadows of their broken arches on the solitary stream, some Transatlantic commentator will be weighing in the scales of some new and now unimagined system of criticism the respective merits of the Bells and the Fudges and their historians.
Building new roads and bridges creates jobs. Growing our exports creates jobs. Reforming our outdated tax system and our broken immigration system creates jobs.
The approach and strategies are very similar in that you gather all the information you can and then keep adding to that base of information as things develop. You do whatever the probabilities indicated based on the knowledge that you have at that time, but you are always willing to modify your behaviour or your approach as you get new information. In bridge, you behave in a way that gets the best from your partner. And in business, you behave in the way that gets the best from your managers and your employees.
As long as you still have one bridge left, nothing is lost. But from the moment that you cannot even understand the storytelling or the music of other cultures anymore, then we become strangers to each other and the situation will become very complicated.
Investing in a market where people believe in efficiency is like playing bridge with someone who has been told it doesn't do any good to look at the cards.
A circle swoop, and a quick parabola under the bridge arches
Where light pushes through;
A sudden turning upon itself of a thing in the air.
A dip to the water.