I think basically I just think I want everyone and don't really want anybody.
Fund investors are confident that they can easily select superior fund managers. They are wrong.
It's 1450 out of 1500 ETF funds that I just wouldn't touch because they're not diversified enough. Or they have some huge speculative twist to them that if you can guess the markets right you will do very well for a day or two but who can do that? Nobody.
On balance, the financial system subracts value from society
Managed funds are astonishingly tax-inefficient.
The business has some problems, substantial problems. You go fix it, you young people. That's what you're there for. Don't believe what the old generation tells you. We don't know a damn thing, including Bogle.
While the apostles of the new so-called "behavioral" theory present ample evidence of how often human beings make irrational financial decisions, it remains to be seen whether these decisions lead to predictable errors that create systematic mispricings upon which rational investors can readily and economically capitalize.
The noblest mind the best contentment has
Peak performance is meditation in motion.
If you just compare South Africans to the rest of the world, I think that white South Africans, and especially English-speaking white South Africans, are exactly the same as Brits or Australians or New Zealanders or Canadians or Americans.
Sometimes when you are with an enlightened teacher, you will feel both pleasant and unpleasant things magnified. That happens when you meditate with someone who goes into very strong states of altered consciousness.