Good writers are of necessity rare.
I understand that when people read my books that there’s something there – but I don’t identify with it.
As a financial historian, I was quite isolated in Oxford – British historians are supposed to write about kings – so the quality of intellectual life in my field is much higher at Harvard. The students work harder there.
Risk models are a substitute for historical knowledge, because they tend to work with just three years’ worth of data. But three years is not a long time in financial history.
A little too wise, they say, do ne’er live long.
Insight is the first condition of Art.
What’s so seductive about the efficient markets hypothesis is that it applies nine years out of ten. A lot of the time it works. But when it stops working, you blow up.
But time is yet another of God’s creations, and as such, it has a life of its own.
Anything for a quiet life.
Not only will this make you treat each moment more preciously, but you will be more patient with yourself and with others, recognizing that there are millions of moments on the path to any worthwhile achievement.