We tell our young managers: 'Don't be afraid to make a mistake. But make sure you don't make the same mistake twice'.
More people are interested in trying to shuffle paper assets around than building lasting assets by producing real goods.
What we in industry learned in dealing with people is that people do not work just for money and that if you are trying to motivate, money is not the most effective tool.
More people are interested in trying to shuffle paper assets around than building lasting assets by producing real goods.
They are ill discoverers that think there is no land, when they can see nothing but sea.
The individual investor should act consistently as an investor and not as a speculator.