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.
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.
Khomeini obviously had many problems, but he had one clever side to him. He never made economic promises to people and as a result, he never led to dissatisfaction in this perspective. Because they need to get votes, they use misleading slogans. And this leads to rising expectations. I had a personal experience.
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.
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're coming off a quarter here that was in-line with our expectations, but much lower at WPZ due to Geismar's extended outage and a continued heavy capital investing period all as was expected.
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.
There have been occasions in my later life (I suppose as in most lives) when I have felt for a time as if a thick curtain had fallen on all its interest and romance, to shut me out from anything save dull endurance any more. Never has that curtain dropped so heavy and blank, as when my way in life lay stretched out straight before me through the newly-entered road of apprenticeship to Joe.
You're not going to be different ... you're going to be the same as you've always been; with doubts, everlasting dissatisfaction with yourself, vain efforts to amend, and falls, and everlasting expectation, of a happiness which you won't get, and which isn't possible for you.