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Beating the market matters, but limiting risk matters just as much. Ultimately, investors have to ask themselves whether they are interested in relative or absolute returns. Losing 45 percent while the market drops 50 percent qualifies as market outperformance, but what a pyrrhic victory this would be for most of us.
Seth Klarman
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The fellow who never makes a mistake takes his orders from one who does.
Herbert Brocknow
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Be firm on principle but flexible on method.
Zig Ziglar
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Too many parents make life hard for their children by trying, too zealously, to make it easy for them.
Johann Wolfgang von Goethe
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