You cannot live with expectations because life has no obligation to fulfill your desires. You can live with an open heart, but you cannot live with expectations. The more expectations you have, the more frustrated you will be.
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.
I know so many who have married in the full expectation and confidence of some one particular advantage in the connection, or accomplishment, or good quality in the person, who have found themselves entirely deceived, and been obliged to put up with exactly the reverse. What is this but a take in?
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.
We intend to conduct our business in a way that not only meets but exceeds the expectations of our customers, business partners, shareholders, and creditors, as well as the communities in which we operate and society at large.
Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.
Expectations always lead to frustrations. Expectations are the seeds, and frustration is the crop that sooner or later you will have to reap. It is your own doing.
(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.