We fight for lost causes because we know that our defeat and dismay may be the preface to our successors' victory, though that victory itself will be temporary; we fight rather to keep something alive than in the expectation that anything will triumph.
I see knowledge increasing and human power increasing, I see everincreasing possibilities before life, and I see no limits set to it all. Existence impresses me as a perpetual dawn. Our lives, as I apprehend them, swim in expectation.
(Because) the notion of absolute truth is difficult to sustain outside the context of religion, ethical conduct is not something we engage in because it is somehow right in itself but because, like ourselves, all others desire to be happy and to avoid suffering. Given that this is a natural disposition, shared by all, it follows that each individual has a right to pursue this goal. Accordingly, I suggest that one of the things which determines whether an act is ethical or not is its effect on others' experience or expectation of happiness.
We changed again, and yet again, and it was now too late and too far to go back, and I went on. And the mists had all solemnly risen now, and the world lay spread before me.
William James once made an acute point about the relationship between happiness and expectation. He argued that satisfaction with ourselves does not require us to succeed in every endeavour. We are not always humiliated by failing; we are humiliated only if we first invest our pride and sense of worth in a given achievement and then do not reach it.
So those who wished for some central cosmic purpose for us, or at least our world, or at least our solar system, or at least our galaxy, have been disappointed, progressively disappointed. The universe is not responsive to our ambitious expectations.
There is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation.
A miracle is an event which creates faith. That is the purpose and nature of miracles. Frauds deceive. An event which creates faith does not deceive: therefore it is not a fraud, but a miracle.
I didn't listen to half of the criticism I received. I just didn't let it enter my brain. It affects people around me, but it was my job to see through that. When you are in charge of a top club, where expectations are high you have to deal with that.