I must say that a small investment company is one of the toughest things I ever attempted to do. There’s no business in this world that’s more difficult than backing bright young engineers and guys who think they’ve got a new product but aren’t good businessmen.
Royal Little – American entrepreneur, founded Textron in 1923, father of modern conglomerate companies (1896-1989)
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– Done is better than perfect.
– Move fast and break things.
– The riskiest thing is to take no risks.
– Focus on solving the most important problems.
– Focus every day on how to build real value.
– Act – don’t talk!
Mark Zuckerberg – American company founder, facebook (b. 1984), from a letter to his investors about his “Rules for Success” (2012), Quotations book 2016
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There is a continuum that runs from character to productivity. Who you are and what you believe make a difference to those who look to you for leadership. The values you live will reach the bottom line of your company.
Walter Wright – American Business journalist (b. 1942), Quotations book 2013
The value of life ist not in the length of days, but in the use we make of them; a man may live long yet very little.
Michel de Montaigne – French writer and philosopher (1533-1592)
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Educate your children, educate yourself, in the love for the freedom of others, for only in this way will your own freedom not be a gratuitous gift from fate. You will be aware of its worth and will have the courage to defend it.
Joaquim Aurélio Barreto Nabuco de Araújo – Brazilian politician, historian and journalist, co founder of the Academia Brasileira de Letras (1849-1910), from “Abolitionism: The Brazilian Antislavery Struggle” (1883), Quotations book 2019
Eduquem os seus filhos, eduquem-se a si mesmos, no amor da liberdade alheia, único meio de não ser a sua própria liberdade uma doação gratuita do Destino, e de adquirirem a consciência do que ela vale, e coragem para defendê-la.
Joaquim Aurélio Barreto Nabuco de Araújo – político, historiador e jornalista brasileiro, co-fundador da Academia Brasileira de Letras (1849-1910), de “O Abolicionismo” (1883), Livro de cotações 2019
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Do you really like a particular stock? Put 10 percent or so of your portfolio on it. Make the idea count. … Good [investment] ideas should not be diversified away into meaningless oblivion.
William H. “Bill” Gross – American Fonds Manager and company founder (b. 1944), from “Everything You’ve Heard About Investing Is Wrong! How to Profit in the Coming Post-Bull Markets” (1997), Quotations book 2016
In essentials unity, in non-essentials liberty, in all things charity.
Unitatem in necessariis, in non necessariis libertatem, in omnibus caritatem.
Marco Antonio de Dominis – born Marko Gospodnetić, Dalmatian Catholic theologian, philosopher and scientist, 1602-1616 Archbishop of Split, (1560-1624), from “De Republica Ecclesiastica”, part 1, book 4, chapter 8 (1617), Quotations book 2019
This time the men of western Europe have not lacked courage and have not acted too late. They have done something great and what is remarkable and perhaps unique is that they have done it by renouncing means of force, any constraint, any threat.
Paul-Henry Spaak – Belgian politician, 1956-61 Nato General Secretary (1899-1972), on Occasion of the signing of the Roman Treaties 1957, seen on a bust of Paul-Henry Spaak in front of Brussel’s Central Station , Quotations book 2013
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Noi siamo oggetti da parte di Dio di un amore intramontabile. Sappiamo: ha sempre gli occhi aperti su di noi, anche quando sembra ci sia notte. E’ papà; più ancora è madre. Non vuol farci del male; vuol farci solo del bene, a tutti.
We are the objects of undying love on the part of God. We know: he has always his eyes open on us, even when it seems to be dark. He is our father; even more he is our mother. He does not want to hurt us, He wants only to do good to us, to all of us.
Pope Johan Paul I – born Albino Luciani, 1978 Holy Father (1912-1978), in his Angelus on September 10th, 1978
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You fail if you don’t try. If you try and you fail, yes, you’ll have a few articles saying you’ve failed at something. But if you look at the history of American entrepreneurs, one thing I do know about them: An awful lot of them have tried things and failed in the past and gone on to great things.
Sir Richard Branson – British company founder (Virgin) and adventurer (b. 1950), Quotations book 2016
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As time goes on, I get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes. It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence… One’s knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself entitled to put full confidence.
John Maynard Keynes – British economist and investor (1883-1946), in a letter to Francis Scott, Chairman of Provincial Insurance on August 15th, 1934, Quotations book 2012
As Keynes’ assets were only £ 7,815 at the end of 1929, they reached their height with £ 506,522 in 1936. In the subsequent stock market crisis the assets collapsed to about £ 200,000. At the end of 1945 his assets were £ 411,238, which converted to current conditions would approximate € 22 million.
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Commit thy way unto the LORD; trust also in him; and he shall bring it to pass.
The Bible, Psalm 37:5 (KJV) – Quotations book 2006
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We are not afraid to entrust the American people with unpleasant facts, foreign ideas, alien philosophies, and competitive values. For a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people.
John F. Kennedy – American politician, 1961-63 35th president (1917-1963), Quotations book 2005
As our business grows, it becomes increasingly necessary to delegate responsibility and to encourage men and women to exercise their initiative. This requires considerable tolerance. Those men and women to whom we delegate authority and responsibility, if they are good people, are going to want to do their jobs in their own way.
Mistakes will be made. But if a person is essentially right, the mistakes he or she makes are not as serious as the mistakes management will make if it undertakes to tell those in authority exactly how they have to do their jobs.
Management that is destructively critical when mistakes are made kills initiative. And it´s essential that we have people with initiative, if we are to continue to grow.
William L. McKnight – American entrepreneur and philanthropist, who made 3M to a global concern with this attitude (1887-1978), Quotations book 2013
The greatest trust between man and man is the trust of giving counsel.
Summa quae intercedit inter homines fides, et illa consilium impertiendi.
Sir Francis Bacon – English philosopher, politician and writer (1561-1626), from his essay “De Consilio” (“Of Counsils”) in “Essayes: Religious Meditations. Places of Perswasion and Disswasion. Seene and Allowed” (1625), Quotations book 2018
Men are willing to forego the old for the sake of the new. But commonly it is found in theology that that which is true is not new, and that which is new is not true.
Robert Shindler – American Baptist priest, close friend to preacher Charles Haddon Spurgeon (c. 1824-1903), from his article “The Down Grade “, published in “Sword and the Trowel” (March 1887), Quotations book 2019
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True independence – meaning the willingness to challenge a forceful CEO when something is wrong or foolish – is an enormously valuable trait in a director. It is also rare. The place to look for it is among high-grade people whose interests are in line with those of rank-and-file shareholders – and in line in a very big way.
Warren Buffett – American value investor, Chairman of Berkshire Hathaway (b. 1930), Quotations book 2016
Lucius Annaeus Seneca – Roman philosopher (4 BC-65 AC)
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You hear a lot of strange things about tithing. Some say it is a church tax, and they expect me to pay it and that is the end of it. Others say that when I give God one-tenth of my income, He blesses the nine-tenths that is left to the extent that the nine-tenths now goes as far as the whole thing used to go.
This isn’t really true, is it? Suppose a farmer had 100 bushels of corn in the barn and he decides to plant 10 bushels in the ground. What multiplies? Is it the 90 bushels that he has left in the barn? Oh, no. All of us “farmers” know it is the 10 bushels you put in the ground that multiplies.
Similarly, it is the 10 percent you give to God that multiplies..
Dr. R. Stanley Tam – American entrepreneur, f.ex. United States Plasic Corp., and philanthropist (b. 1915), from “God owns my Business” (1972), Quotations book 2009
Someone once told me that time was a predator that stalked us all our lives. But I rather believe that time is a companion who goes with us on the journey and reminds us to cherish every moment because they’ll never come again. What we leave behind is not as important as how we’ve lived. After all – we’re only mortal.
Captain Jean-Luc Picard – captain of the USS-Enterprise, character in the “Star Trek” films and serial, from “Star Trek Generations” (1994)
Time is the enemy of the poor business and the friend of the great business. If you have a business that’s earning 20 % – 25 % on equity, time is your friend. But time is your enemy if your money is in a low return business.
Warren Buffett – American value investor, Chairman of Berkshire Hathaway (b. 1930), at the 1998 Berkshire Hathaway Annual Meeting, Quotations book 2018
Wisdom – often falsely attributed to Albert Einstein (“The new quotable Einstein”)
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As a young man, I was told by Lord Thomson of Fleet that you have to think until it hurts before making a decision.
Paul Desmarais Jr. – Canadian entrepreneur (b. 1954) [Lord (Kenneth) Thomson of Fleet: Canadian publisher (1923-2006)], Quotations book 2014
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“Compared with other institutional investors, ‘families are more adventurous about where they invest their capital,’ says a managing director at one advisory firm whith a large wealthy client base. ‘They’re quicker in their decision-making, and sometimes don’t have hard and fast rules like pension funds do.'”
from: The Private Equity Analyst – March 2004, Quotations book 2006
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Someone came to the wise Socrates and said: “Listen Socrates, I have to tell you something!”
“Hold on!”, the wise man stopped him. “Did you put through the three sieves what you want to tell me?”
“Three sieves?”, the other one asked in amazement.
“Yes, my friend! Let’s try if this, you want to tell me, passes through the three sieves: The first sieve is the one of truth. Did you examine whether what you were about to tell me was true?”
“Well, no, not really. I just overheard the Story …”
“Ah! Well, then you must have used the second sieve, the sieve of good? Is it something good that you are about to tell me?”
The other man said hesitantly: “Hm, no … on the contrary …”
“Hm …”, the wise man interrupted him. “Let us use the third sieve then, the sieve of necessity. Is it absolutely necessary for you to tell me what you are so exited about?”
“No, not really necessary …”
“Well”, Socrates said with a smile. “If the story you are about to tell me isn’t true, good, or necessary, just forget it and don’t bother me with it anymore.”
anecdote about Socrates – Greek philosopher (469-399 B.C), some sources cite Plato (Greek philosopher, c. 428-348 v. Chr.) or “the young Polimus” as other Person, Quotations book 2018
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1. I am the Lord thy God, which have brought thee out of the land of Egypt, out of the house of bondage.
2. Thou shalt have no other gods before me. Thou shalt not make unto thee any graven image, or any likeness of any thing that is in heaven above, or that is in the earth beneath, or that is in the water under the earth. Thou shalt not bow down thyself to them, nor serve them; for I the Lord thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me; And shewing mercy unto thousands of them that love me, and keep my commandments.
3. Thou shalt not take the name of the Lord thy God in vain; for the Lord will not hold him guiltless that taketh his name in vain.
4. Remember the sabbath day, to keep it holy. Six days shalt thou labour, and do all thy work; But the seventh day is the sabbath of the Lord thy God; in it thou shalt not do any work, thou, nor thy son, nor thy daughter, thy manservant, nor thy maidservant, nor thy cattle, nor thy stranger that is within thy gates; For in six days the Lord made heaven and earth, the sea, and all that in them is, and rested the seventh day; wherefore the Lord blessed the sabbath day, and hallowed it.
5. Honour thy father and thy mother; that thy days may be long upon the land which the Lord thy God giveth thee.
6. Thou shalt not kill.
7. Thou shalt not commit adultery.
8. Thou shalt not steal.
9. Thou shalt not bear false witness against thy neighbour.
10. Thou shalt not covet thy neighbour’s house; thou shalt not covet thy neighbour’s wife, nor his manservant, nor his maidservant, nor his ox, nor his ass, nor anything that is thy neighbour’s.
These commandments can be found in the Bible at Moses 2:20 and Moses 5:5 – Quotations books 2002 to 2019
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You cannot bring about prosperity by discouraging thrift.
You cannot strengthen the weak by weakening the strong.
You cannot help little men by tearing down big men.
You cannot lift the wage earner by pulling down the wage payer.
You cannot help the poor by destroying the rich.
You cannot establish sound security on borrowed money.
You cannot further the brotherhood of man by inciting class hatred.
You cannot keep out of trouble by spending more than you earn.
You cannot build character and courage by destroying men’s initiative and independence.
And you cannot help men permanently by doing for them what they can and should do for themselves.
William H. J. Boetcker – American presbyterian clergyman, born in Hamburg (1873-1962), published 1916
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Being prepared means much, being able to wait means more, but to make use of the right moment means everything.
Arthur Schnitzler – Austrian writer (1862-1931), from “Buch der Sprüche und Bedenken” (1927), Quotations book 2009
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If you accept my thesis that many aging tech companies resemble the Walking Dead, you should also accept the follow-up proposition that what these companies need are not “visionary” CEOs but pragmatic ones, less Steve the visionary, and more Larry the Liquidator, a person with limited ambitions and a readiness to preside over the dismantling of an enterprise.
Prof. Aswath Damodaran – Indian-American accountant, manager and financial educator at New York University (b. 1957), in hi blog “The Yahoo! Chronicles! Is this the End Game?” (7.12.2015)
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The Reverend Fred Craddock, a remarkable preacher from Georgia, may have been imagining things –the way preachers are wont to do – but he says this story really happened.
Dr. Craddock was visiting in the home of his niece. There was this old greyhound dog there, just like the ones who race around a track chasing those mechanical rabbits. His niece had taken the dog in to prevent it from being destroyed because its racing days were over.
Dr. Craddock strikes up a conversation with the dog: “I said to the dog, are you still racing?” “No,” he replied. “Well, what was the matter? Did you get too old to race?” “No, I still had some race in me.” “Well, what then? Did you not win?” “I won over a million dollars for my owner.”
“Well, what was it? Bad treatment?” “Oh, no,” the dog said, “They treated us royally when we were racing.” “Did you get crippled?” “No.” “Then why?” Craddock pressed, “Why?” The dog answered, “I quit.” “You quit?” “Yes,” he said, “I quit.”
“Why did you quit?” “I just quit. Because after all that running and running and running, I found out that the rabbit I was chasing wasn’t even real.”
On this day of celebration, achievement, and the commencement of a new phase in your lives, it takes considerable temerity for me to challenge you to consider what kind of rabbit you’ll choose to chase during your careers. I do so only because – this may surprise you – I challenge myself as to whether the rabbit I’ve been chasing all these long years is real.
John C. Bogle – American author and founder of The Vanguard Group and the world’s first index mutual fund (1929-2019)
May the Lord go before you to lead you,
May the Lord go behind you to protect you,
May the Lord go beneath you to support you,
May the Lord go above you to bless you,
May the Lord be within you to help you rightly serve him in body, soul and spirit
and sanctify his name.
May the triune God bless you,
Father, Son and Holy Spirit.
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One Life. Keep it simple.
Follow your dreams.
Be curious. Learn new things.
Think outside the box.
Do what you love. Love what you do.
Don’t shy away. Speak your mind.
Be yourself. Be free.
Work less. Do more.
Shut off the pixels. Disconnect.
Take time out.
Eat heartily. Take long walks.
Read more. Smile often.
Laugh out loud.
Pick a hobby. Flip a coin.
Sleep like a baby.
Love deeply. Make new friends.
Enjoy the little things.
Seize the day. Live every moment.
slogan of the lifestyle company LetterNote, New Delhi, India, Quotations book 2017
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Many are those who will give advice, but few are those who will accept it with gratitude, and even fewer are those who will follow it. After the age of 30, man becomes generally impermeable to guidance. And when guidance no longer reaches him, he rapidly becomes full of pride and self-interest. For the rest of his days, he adds impudence to foolishness, which causes his irreversible fall. This is why it is indispensable to find someone capable of discernment, and to bind yourself to him in order to receive his teachings..
from the Hagakure (spiritual guide for the Samurai, written between 1709 and 1716)
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Don’t be afraid to give up the good and go for the great.
Wisdom, often attributed to John D. Rockefeller – American oil magnate, sundays school teacher at at his time richest man of the world (1839-1937)
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The fruit of silence is prayer,
the fruit of prayer is faith,
the fruit of faith is love,
the fruit of love is service,
the fruit of service is peace.
Mother Teresa – born Agnes Gonxha Bojaxhiu, Albanian-born Indian nun and order’s founder, Nobel Peace Prize 1979 (1910-1997), Quotations book 2007
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The cruelest system in the world is when they give people 3 percent to 4 percent increases to keep them even with inflation. They carry them along, don’t give them appraisals, don’t tell them what they are doing wrong, how they can improve and then, a recession comes.
Then, they call them in and say, “Hey, you gotta go.” That is the cruellest form of management.
We tell the bottom 10 percent, “Look. You’ve got a year. Find yourself somewhere to go.” And they do. They’ve got good credentials, they go out and they launch into a new career instead of always being tarred as the bottom 10. Don’t think of this as cruel. Think of telling people where they stand as one of your main obligations as a leader.
Jack Welch – born John Francis Welch Jr., legendary American manager (General Electric), Fortune 1999: Manager of the Century (b. 1935)