To go out of your mind once a day is tremendously important, because by going out of your mind you come to your senses. And if you stay in your mind all of the time, you are over rational, in other words you are like a very rigid bridge which because it has no give; no craziness in it, is going to be blown down by the first hurricane.
When you build a bridge, you insist that it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. And that same principle works in investing.
The study of geography is about more than just memorizing places on a map. It's about understanding the complexity of our world, appreciating the diversity of cultures that exists across continents. And in the end, it's about using all that knowledge to help bridge divides and bring people together.
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 stood in Venice, on the Bridge of Sighs; A palace and a prison on each hand; I saw from out the wave of her structure's rise As from the stroke of the enchanter's wand: A thousand years their cloudy wings expand Around me, and a dying Glory smiles O'er the far times, when many a subject land Look'd to the winged Lion's marble pines, Where Venice sate in state, throned on her hundred isles.
The thing I'd really like to see is the old London Bridge, with all the old buildings around it like Shakespeare's Globe. I'd like to walk along that. Don't worry, I won't get drunk and fall in.
What could be more advantageous in an intellectual contest - whether it be chess, bridge, or stock selection - than to have opponents who have been taught that thinking is a waste of energy?
The study of geography is about more than just memorizing places on a map. It's about understanding the complexity of our world, appreciating the diversity of cultures that exists across continents. And in the end, it's about using all that knowledge to help bridge divides and bring people together.
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.
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.
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.
Faith—is the Pierless Bridge Supporting what We see Unto the Scene that We do not— Too slender for the eye It bears the Soul as bold As it were rocked in Steel With Arms of Steel at either side— It joins—behind the Veil To what, could We presume The Bridge would cease to be To Our far, vacillating Feet A first Necessity.