The higher powers of the reflective intellect are more decidedly and more usefully tasked by the unostentatious game of draughts than by all the elaborate frivolity of chess.
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 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 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.
The moth don't care when he sees the flame
He might get burned, but he's in the game
And once he's in, he can't go back
He'll beat his wings till he burns them black
No, the moth don't care when he sees the flame
The moth don't care if the flame is real
'Cause flame and moth got a sweetheart deal
And nothing fuels a good flirtation
Like need and anger and desperation
No, the moth don't care if the flame is real.
My image of what a city should be - the super-rich and all the poor and desperate and the people who have some kind of a desire. It's a surviving game, people trying to survive on many different levels.
The problem with commodities is that you are betting on what someone else would pay for them in six months. The commodity itself isn't going to do anything for you....it is an entirely different game to buy a lump of something and hope that somebody else pays you more for that lump two years from now than it is to buy something that you expect to produce income for you over time.
This might sound masochistic or narcissistic‚ I don't know‚ but when I'm not playing the game‚ the validations I feel about life are always through the hardships. I relate more to sadness‚ in a lot of ways‚ when I'm not playing.
But other people also 'invite' us to behave like victims, when they complain about the unfairness of life, for example, and ask us to agree, to offer advice, to participate. Be careful. When you join in that game you always end up losing.