The settler and pioneer have at bottom had justice on their side; this great continent could not have been kept as nothing but a game preserve for squalid savages.
You really have to bring your game and know what you want to do. And then, there are the producers and the writers and the director on the other side of the glass, and what they want. You have to be malleable to what's going to work, and you have to stay in the framework of the context.
I bought a company in the mid-90s called Dexter Shoe and paid $400 million for it. And it went to zero. And I gave about $400 million worth of Berkshire stock, which is probably now worth $400 billion. But I've made lots of dumb decisions. That's part of the game.
The commission of the investment sins listed above is not limited to 'the little guy.' Huge institutional investors, viewed as a group, have long underperformed the unsophisticated index-fund investor who simply sits tight for decades. A major reason has been fees: Many institutions pay substantial sums to consultants who, in turn, recommend high-fee managers. And that is a fool's game.
I've always felt that the game itself is pretty much a melody and I am there to provide the lyrics. You want the lyrics to match the melody, because if you are composing a song or recording a song, it's cacophonous if they don't match.
The sentiment of virtue is a reverence and delight in the presence of certain divine laws. It perceives that this homely game of life we play, covers, under what seem foolish details, principles that astonish.
I am very glad there are quite a number of people born with a gift and a liking for all of this; like great chessplayers who play sixteen games at once blindfold and die quite soon of epilepsy. Serve them right! I hope the Mathematicians, however, are well rewarded. I promise never to blackleg their profession nor take the bread out of their mouths.