I'm Happy When I Can Spend Every

To Win, The First Thing You Have To Do Is Not Lose.

A Lot Of People Disagree With Me On This, I Believe In Mark To Market.

In That, We Agreed With Andrew Carnegie, Who Said That Huge Fortunes That Flow In Large Part From Society Should In Large Part Be Returned To Society. In My Case, The Ability To Allocate Capital Would Have Had Little Utility Unless I Lived In A Rich, Populous Country In Which Enormous Quantities Of Marketable Securities Were Traded And Were Sometimes Ridiculously Mispriced. And Fortunately For Me, That Describes The U.s. In The Second Half Of The Last Century.

Do Not Save What Is Left After Spending, But Spend What Is Left After Saving.

I Want To Be Able To Explain My Mistakes. This Means I Do Only The Things I Completely Understand.