She's always there for me when I need her; She's my best friend; she's just my everything.
The plural on anecdote is not evidence
We have no control over outcomes, but we can control the process. Of course, outcomes matter, but by focusing our attention on process, we maximize our chances of good outcomes.
Edge also implies what Ben Graham. . . . called a margin of safety. You have a margin of safety when you buy an asset at a price that is substantially less than its value. As Graham noted, the margin of safety 'is available for absorbing the effect of miscalculations or worse than average luck. '. . . Graham expands, "The margin of safety is always dependent on the price paid. It will be large at one price, small at some higher price, nonexistent at some still higher price. "
A thoughtful investment process contemplates both probability and payoffs and carefully considers where the consensus - as revealed by a price - may be wrong. Even though there are also some important features that make investing different than, say, a casino or the track, the basic idea is the same: you want the positive expected value on your side
At the core of an analytical edge is an ability to systematically distinguish between fundamentals and expectations. Fundamentals are a well thought out distribution of outcomes, and expectations are what's priced into an asset. A power metaphor is the [pari-mutuel] racetrack. The fundamentals are how fast a given horse will run and the expectations are the odds on the tote board. As any serious handicapper knows, you make money only by finding a mispricing between the performance of the horse and the odds. There are no 'good' or 'bad' horses, just correctly or incorrectly priced ones.
People are, by and large, quite poor at judging correct absolute values but are astute about determining relative values. Psychologists call this coherent arbitrariness, which suggests that individuals are coherent when they compare prices on a relative basis but arbitrary when those prices are considered versus fundamental value.
If I hear one of my songs by anybody, it's a dream come true every time for me as a songwriter, because I want to write a song, I want to write a song that the world can sing and will always sing.
Having had cancer, one important thing to know is you're still the same person at the end. You're stripped down to near zero. But most people come out the other end feeling more like themselves than ever before.
I am so proud to be running with another strong history-making woman, Hillary Clinton, to be president of the United States. I'm proud because her vision of stronger together, building an economy that works for all, not just those at the top, being safe in the world, not only with a strong military, but also strong alliances to battle terrorism and climate change, and also to build a community of respect, just like Barbara Johns tried to do 65 years ago. That's why I'm so proud to be her running mate.
It is my experience that the world itself has a role to play in our liberation. Its very pressures, pains, and risks can wake us up -release us from the bonds of ego and guide us home to our vast true nature.