Friday, November 22, 2024 Text is available under the CC BY-SA 3.0 licence.

Kurt Donald Cobain

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Come as you are, as you were
As I want you to be
As a trend, as a friend, as a known enemy
Take your time, hurry up
The choice is yours, don't be late.
--
Come As You Are

 
Kurt Donald Cobain

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The prevailing wisdom is that markets are always right. I take the opposition position. I assume that markets are always wrong. Even if my assumption is occasionally wrong, I use it as a working hypothesis. It does not follow that one should always go against the prevailing trend. On the contrary, most of the time the trend prevails; only occasionally are the errors corrected. It is only on those occasions that one should go against the trend. This line of reasoning leads me to look for the flaw in every investment thesis. ... I am ahead of the curve. I watch out for telltale signs that a trend may be exhausted. Then I disengage from the herd and look for a different investment thesis. Or, if I think the trend has been carried to excess, I may probe going against it. Most of the time we are punished if we go against the trend. Only at an inflection point are we rewarded.

 
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Often you don't know whether a woman is friend, enemy or lover until it is too late. Sometimes, she is all three.

 
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An enemy might at any time become a friend, but while an enemy was an enemy he should be trodden on and persecuted.

 
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The trend is your friend except at the end where it bends.

 
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His enemy was time. Or perhaps it was his friend. One never knows for sure.

 
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