“Imagine how much harder physics would be if electrons had feelings!”

Richard Feynman

“We have two classes of forecasters: Those who don’t know – and those who don’t know they don’t know. ”

John Kenneth Galbraith

“I think I’ve been in the top 5% of my age cohort all my life in understanding the power of incentives, and all my life I’ve underestimated it. And never a year passes but I get some surprise that pushes my limit a little farther.”

Charlie Munger

“Establishing and maintaining an unconventional investment profile requires acceptance of uncomfortably idiosyncratic portfolios, which frequently appear downright imprudent in the eyes of conventional wisdom.”

David Swensen

“Many shall be restored that are now fallen, and many shall fall that are now in honour.”

Horace – Ars Poetica

“I see simplicity not so much as a disregard for complexity, but as a clarification of the significant.”

Glenn Murcutt

“An investment operation is one which, upon thorough analysis promises safety of principle and an adequate return. Operations not meeting these requirements are speculative.”

Ben Graham

“Probable things fail to happen and improbable things happen all the time.”

Howard Marks