Words to Start the Week (Feb. 18, 2025)
Nuggets from past notes
”Making mistakes is the privilege of the active. Only those asleep make no mistakes”
“One of the most important things for every investor to understand to learn is that risk is not a function of asset quality. There is a belief that high quality assets are safe, and low quality assets are risky. I believe the opposite. A high quality asset can be priced so high that it is risky”
“No tree, it is said, can grow to heaven unless its roots reach down to hell”
“Actions express authority”
“There is nobody more religious than a convert”