Quotes that influence thoughts and stimulate ones call to a higher purpose. Remember the historical context of who we are, where we have been, and where we are going.
Personal quotes & Creeds to live by
By Rudyard Kipling
If you can keep your head when all about you
Are losing theirs and blaming it on you;
If you can trust yourself when all men doubt you,
But make allowance for their doubting too:
If you can wait and not be tired by waiting,
Or, being lied about, don’t deal in lies,
Or being hated don’t give way to hating,
And yet don’t look too good, nor talk too wise;
If you can dream – and not make dreams your master;
If you can think – and not make thoughts your aim,
If you can meet with Triumph and Disaster
And treat those two impostors just the same
If you can bear to hear the truth you’ve spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build’em up with worn-out tools;
If you can make one heap of all your winnings
And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings,
And never breathe a word about your loss:
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Exceptthe Will which says to them: “Hold on!”
If you can talk with crowds and keep your virtue,
Or walk with Kings – nor lose the common touch,
If neither foes nor loving friends can hurt you,
If all men count with you, but none too much:
If you can fill the unforgiving minute
With sixty seconds’ worth of distance run,
Yours is the Earth and everything that’s in it,
And – which is more – you’ll be a Man, my son!
Business, risk and its role in the World Order.
The return of peacetime has heralded an opportunity to apply the lessons learned so painfully during the long years of depression and war. Perhaps the dreams of Enlightenment and the Victorian age might, at last, come true for all members of the human race. Keynesian economics was enlisted as a means of controlling the business cycle and promoting full employment. The aim of the Bretton Woods Agreement aw to recapture the stability f the nineteenth-century gold standard. The International Monetary Fund and the World Bank were set up to nourish economic progress among disadvantaged people around the world. Meanwhile, the United Nations would keep peace among nations.Against the God- Peter Bernstein pg. 246
In this environment, the Victorian concept t rational behavior regained its former popularity. Measurement always dominates intuition: rational people make choices on the basis of information rather than on the basis of whim, motion or habit. Once they have analyzed all the available information, they make decisions in accord with well-defined preferences. They prefer more wealth to less and strive to maximize utility. But they are also risk-averse in the Bernooullian sense that the utility of additional wealth is inversely related to the amount already possessed.
With the concept of rationality so well defined and so broadly accepted in an intellectual circle, its transformation into rules for governing risk and maximum utility was bound to influence the world of investing and managing wealth. The setting was perfect.
The achievements that followed rough Nobel prizes to gifted
scholars,and the definition of risk and the practical application that emerged from those achievements revolutionized investment management, the structure, of markets, the instruments, used by investors, and the behavior, of the millions of people who keep the system working.