Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.
We got together in a few days a company of the toughest old salts imaginable--not pretty to look at, but fellows, by their faces, of the most indomitable spirit.
When I look at him [Edward Heath] and he looks at me, I don't feel that it is a man looking at a woman. More like a woman being looked at by another woman.
The further and further we look out with our telescopes and the further and further we look in with our microscopes, the larger and larger and smaller and smaller the universe becomes in order to escape the investigation because we are the universe looking at itself.
Almost all the other fellows do not look from the facts to the theory but from the theory to the facts; they cannot get out of the network of already accepted concepts; instead, comically, they only wriggle about inside.
Science ... looks skeptically at all claims to knowledge, old and new. It teaches not blind obedience to those in authority but to vigorous debate, and in many respects that's the secret of its success.
When I am asked about influences, I always say I bow down to Fred Astaire, because when you look at him dancing you never look at his extremities, do you? You look at his centre. What you never see is the hours of work that went into the routines, you just see the breathtaking spirit and freedom.