There are a few investment managers, of course, who are very good - though in the short run, it's difficult to determine whether a great record is due to luck or talent. Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship. Rather than listen to their siren songs, investors - large and small - should instead read Jack Bogle's The Little Book of Common Sense Investing.
Alas for America as I must so often say, the ungirt, the diffuse, the profuse, procumbent, one wide ground juniper, out of which no cedar, no oak will rear up a mast to the clouds! It all runs to leaves, to suckers, to tendrils, to miscellany. The air is loaded with poppy, with imbecility, with dispersion, & sloth.
Inequality also distorts our democracy. It gives an outsized voice to the few who can afford high-priced lobbyists and unlimited campaign contributions, and runs the risk of selling out our democracy to the highest bidder. And it leaves everyone else rightly suspicious that the system in Washington is rigged against them - that our elected representatives aren't looking out for the interests of most Americans.
Take this at least, this last advice, my son:
Keep a stiff rein, and move but gently on:
The coursers of themselves will run too fast,
Your art must be to moderate their haste.
Behold great Whitman, whose licentious line Delights the rake, and warms the souls of swine; Whose fever'd fancy shuns the measur'd pace, And copies Ovid's filth without his grace. In his rough brain a genius might have grown, Had he not sought to play the brute alone; But void of shame, he let his wit run wild, And liv'd and wrote as Adam's bestial child.
We should not anticipate that every time countries come together that we are doing some revolutionary thing. Instead of hitting home runs, sometimes we're going to hit singles.
He had been full of the idea so long, dreamed it right through to the end, waited with his teeth set, so to speak, at an inconceivable pitch of intensity. Now, in the reaction, he was running down like an overwound clock.
O Lord my God,
tell me what you are to me.
Say to my soul,
I am your salvation.
Say it so that I can hear it.
My heart is listening, Lord;
open the ears of my heart
and say to my soul,
I am your salvation.
Let me run toward this voice
and seize hold of you.
Do not hide your face from me:
let me die so that I may see it,
for not to see it would be death to me indeed.