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.
The game of discontent has its rules, and he who disregards them cheats. It is not permitted to you to wish to add another's advantages or possessions to your own; you are permitted only to wish to be another.
As things are, and as fundamentally they must always be, poetry is not a career, but a mug's game. No honest poet can ever feel quite sure of the permanent value of what he has written: He may have wasted his time and messed up his life for nothing.
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.
Substances like LSD, which give away a secret about the nature of the social game - the human game and what underlies it - are potentially dangerous, of course, like any good thing is. Electricity is dangerous, fire is dangerous, cars are dangerous, planes are dangerous, but not so dangerous as driving on the freeway. The only way to handle danger is to face it. If you start getting frightened of it, then you make it worse. Because you project onto it all kinds of bogeys and threats which don't exist in it at all.
The fools standpoint is that all social institutions are games. He sees the whole world as game playing. That's why, when people take their games seriously and take on stern and pious expressions, the fool gets the giggles because he knows that it is all a game.
Coaches do so much research about a referee because they believe refereeing is such a crucial part of the game that the result may hinge on what we say or do. They probably know more about me than I know myself!
If people don't like my style, then I can't do anything about that. I have been like that since I first entered into the game and it hasn't done me bad in the past, so I am not going to change now.
If he had unlimited money at his disposal, he might go into the wilds somewhere and shoot big game. I never know what the big game have done to deserve it, but they do help to deflect the destructive energies of some of our social misfits.
The regime must allow immediate and unrestricted access to every site, every document, and every person identified by inspectors. Iraq can be certain that the old game of cheat-and-retreat tolerated at other times will no longer be tolerated.