The best strategy is one that offers the highest compound return consistent with no risk of going broke.
--
Part One, Entropy, Private Wire, p. 69William Poundstone
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To love is to risk not being loved in return. To hope is to risk pain. To try is to risk failure, but risks must be taken, because the greatest hazard in life is to risk nothing.
Leo Buscaglia
The strategy we've adopted precludes our following standard diversification dogma. Many pundits would therefore say the strategy must be riskier than that employed by more conventional investors. We disagree. We believe that a policy of portfolio concentration may well decrease risk if it raises, as it should, both the intensity with which an investor thinks about a business and the comfort-level he must feel with its economic characteristics before buying into it. In stating this opinion, we define risk, using dictionary terms, as "the possibility of loss or injury."
Warren Buffett
The ultimate compound return rate is acutely sensitive to fat tails.
William Poundstone
When Nikita Khrushchev wrapped himself in the bloody mantle of the Czars he broke Hungary, he broke the little Communist parties over the western world, and he broke the hearts of many honest men who had trusted a little too far, a little too long.
James (journalist) Cameron
"Muhammad of Arabia ascended the highest Heaven and returned. I swear by God that if I had reached that point, I should never have returned." These are the words of a great Muslim saint, 'AbdulQuddës of Gangoh. In the whole range of Sufi literature it will be probably difficult to find words which, in a single sentence, disclose such an acute perception of the psychological difference between the prophetic and the mystic types of consciousness. The mystic does not wish to return from the repose of "unitary experience"; and even when he does return, as he must, his return does not mean much for mankind at large.
Muhammad Iqbal
Poundstone, William
Pour-Mohammadi, Mostafa
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