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.
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.
With a popular show, you know that there's expectations there, so that's a little nerve-wracking when you're new and you're just trying to find your legs on something, but it's exciting, too, because that's what we work so hard for.
With every one, the expectation of a misfortune constitutes a dreadful, punishment. Suffering then assumes the proportions of the unknown, which is the soul's infinite.
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.
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.
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.
Although we deal with probabilities and expectations, the actual results can deviate substantially from such expectations, particularly on a short-term basis.