The case for trade is not just monetary, but moral. Economic freedom creates habits of liberty. And habits of liberty create expectations of democracy.
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've always felt that improv looks and feels more clever when you're there to experience it live than when you have the degree of separation that television creates. Television raises 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.
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.
Here is the vicious circle: if you feel separate from your organic life, you feel driven to survive; survival -going on living- thus becomes a duty and also a drag because you are not fully with it; because it does not quite come up to expectations, you continue to hope that it will, to crave for more time, to feel driven all the more to go on.
The case for trade is not just monetary, but moral. Economic freedom creates habits of liberty. And habits of liberty create expectations of democracy.
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.
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.
RESPITE, n. A suspension of hostilities against a sentenced assassin, to enable the Executive to determine whether the murder may not have been done by the prosecuting attorney. Any break in the continuity of a disagreeable expectation.