George Wilson: Who else has a night-blooming mock orchid flowering this year? Mrs. Martha Wilson: It's an awfully homely-looking plant, George. George Wilson: Hang the looks at the thing! It opens before your eyes in the light of a full moon. It's a marvel, Martha. 40 years to mature and blossom. The flower opens and withers in a matter of moments. [Mr. and Mrs. Wilson approach a rare mock orchid kept alive for 40 years] George Wilson: There isn't a gardener in town who has a plant that requires a 40-year investment for ten seconds of splendor.
Shep Ramsey: They're here. Charlie Wilcox: Who's here? Shep Ramsey: A couple of leeches that make their living of the blood of others. Charlie Wilcox: Investment bankers? Shep Ramsey: Bounty hunters! Charlie Wilcox: Bounty hunters? You mean from up there?
[to Evie, who is lying bound and gagged on a bed after a consensual bondage scene with Laura] Marty Barnes: Hi. Listen, before I untie you, while I have your attention, I just wanted to take a minute and say, you know, this is going to be really rough on you and Dave. It will probably end up in divorce for the two of you; it's really sad. Okay, what I'm thinking is you're going to have half of Dave's money, right? And I got a really good investment for you... a really good project I'm working on. It's something...
Investors should be skeptical of history-based models. Constructed by a nerdy-sounding priesthood using esoteric terms such as beta, gamma, sigma and the like, these models tend to look impressive. Too often, though, investors forget to examine the assumptions behind the models. Beware of geeks bearing formulas.
Warren Schmidt: Randall, what happened about that investment opportunity? You never called me back. Duncan Hertzel: You mean that pyramid scheme? Larry Hertzel: Let's not talk about that now. Duncan Hertzel: All I know is I lost $800.
Farva: It doesn't matter cause I'm going to win ten million dollars. Thorny: What are you going to do with ten million dollars, and you can't say buy the Cleveland Cavaliers. Farva: I'd buy a ten million dollar car. Thorny: That's a good investment but I'd still pull you over. Farva: Bull Shit. You couldn't pull me over, and even if you did I'd activate my car's wings and I'd fly away. [Farva pulls off ticket from cup and pop spills all over him from the hole behind the ticket] Farva: Dammit, you burger punk. You son of a bitch!
It's nice to have a lot of money, but you know, you don't want to keep it around forever. I prefer buying things. Otherwise, it's a little like saving sex for your old age.
Then it is your opinion
Learning to live on less pride has been a great investment in my future.
I have had my mother's wing of my genetic ancestry analyzed by the National Geographic tracing service and there it all is: the arrow moving northward from the African savannah, skirting the Mediterranean by way of the Levant, and passing through Eastern and Central Europe before crossing to the British Isles. And all of this knowable by an analysis of the cells on the inside of my mouth. I almost prefer the more rambling and indirect and journalistic investigation, which seems somehow less
Science is the process that takes us from confusion to understanding...
In my experience, boys are predictable. As soon as they think of something, they do it. Girls are smarter-they plan ahead. They think about not getting caught.
It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.
Acknowledge the complexity of the world and resist the impression that you easily understand it. People are too quick to accept conventional wisdom, because it sounds basically true and it tends to be reinforced by both their peers and opinion leaders, many of whome have never looked at whether the facts support the received wisdom. It's a basic fact of life that many things
Never act upon wishful thinking. Act without checking the facts, and chances are that you will be swept away along with the mob.
Buffett's methodology was straightforward, and in that sense 'simple.' It was not simple in the sense of being easy to execute. Valuing companies such as Coca-Cola took a wisdom forged by years of experience; even then, there was a highly subjective element. A Berkshire stockholder once complained that there were no more franchises like Coca-Cola left. Munger tartly rebuked him. 'Why should it be easy to do something that, if done well two or three times, will make your family rich for life?
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