It's easy to identify many investment managers with great recent records. But past results, though important, do not suffice when prospective performance is being judged. How the record has been achieved is crucial.
When I look back at the past and think of all the time I squandered in error and idleness,... then my heart bleeds. Life is a gift... every minute could have been an eternity of happiness! If only youth knew! Now my life will change; now I will be reborn.
Henry James seems most entirely in his element, doing that is to say what everything favors his doing, when it is a question of recollection. The mellow light which swims over the past, the beauty which suffuses even the commonest little figures of that
Why has mankind had such a craving to be imposed upon? Why this lust after imposing creeds, imposing deeds, imposing buildings, imposing language, imposing works of art? The thing becomes an imposition and a weariness at last. Give us things that are alive and flexible, which won't last too long and become an obstruction and a weariness. Even Michelangelo becomes at last a lump and a burden and a bore. It is so hard to see past him.
Yes, and even for the past...that it will turn out to have been all right for what it was. Something I can accept. Mistakes made by the self I had to be or was not able to be.
A nation like China has become one of the biggest production fields for exporting cheap labor, which also re-questions our history and past, re-questions human desire, and the human illusions of the past.
We may now have reached a point where this gap in our make-up has become unsustainable; partly because what in the past would have counted as material plenty has become the norm for the majority in much of the world; and partly because the slow retreat of religion that coincided with the spread of a capitalist economy has left a gaping hole in millions of people's lives. (Geoff Mulgan)
I do not believe that any man can adequately appreciate the world of to-day unless he has some knowledge of -- a little more than a slight knowledge, some feeling for and of -- the history of the world of the past.
Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
The Chinese government wants me to say that for many centuries Tibet has been part of China. Even if I make that statement, many people would just laugh. And my statement will not change past history. History is history.