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In baseball, you can hit 40 home runs on a single-A-league team and never get paid a thing. But in a hedge fund, you get paid on your batting average. So you go to the worst league you can find, where there's the least competition. - Julian Robertson

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Chris DeMuth Jr

If you're gonna fight, fight like you're the third monkey on the ramp of Noah's ark and it's starting to rain.

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therichest.com

Without data you’re just another person with an opinion. - Edwards Deming

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Chris DeMuth Jr

We read a lot. I don't know anyone who's wise who doesn't read a lot. But that's not enough: You have to have a temperament to grab ideas and do sensible things. Most people don't grab the right ideas or don't know what to do with them. - Charlie Munger

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Chris DeMuth Jr

I know words. I have the best words. - Donald Trump

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vanityfair.com

The way to win is to work, work, work, work and hope to have a few insights. - Charlie Munger

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Chris DeMuth Jr

You adapt, evolve, compete or die. - Paul Tudor Jones

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Chris DeMuth Jr

Everyone has a plan 'till they get punched in the mouth. - Mike Tyson

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Chris DeMuth Jr

If you are stuffing cash in a gym bag or receiving a gym bag stuffed with cash, something has gone wrong in your life. - Matt Levine

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Chris DeMuth Jr

Leaving the question of price aside, the best business to own is one that over an extended period can employ large amounts of incremental capital at very high rates of return. - Warren Buffett

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lifehack.org

Where should we look for investment opportunities? Where no one else is looking and where everyone else is panicking. - Andrew Walker

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Chris DeMuth Jr

Investors should purchase stocks like they purchase groceries - not like they purchase perfume. - Ben Graham

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Chris DeMuth Jr

As tempting as it may be to be a 'man of action,' it often makes more sense to act only at the extremes. But the discipline required to 'do nothing' for long periods of time is not often seen. - James Montier

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Chris DeMuth Jr

Whenever you hear people in the investment business say ‘Never’, that’s when you know it’s about to happen. - Jeff Gundlach

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Chris DeMuth Jr

Everything around you that you call life was made up by people that were no smarter than you and you can change it, you can influence it, you can build your own things that other people can use. - Steve Jobs

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dailynewsbin.com

It’s not the will to win that matters. . . . It’s the will to prepare to win that matters. - Bear Bryant

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Chris DeMuth Jr

All truths are easy to understand once they are discovered; the point is to discover them. - Galileo Galilei

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buzzfeed.com

Over-sentimentality, over-softness, in fact washiness and mushiness are the great dangers of this age and of this people. Unless we keep the barbarian virtues, gaining the civilized ones will be of little avail. - Theodore Roosevelt

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artofmanliness.com

I keep six honest serving men (they taught me all I knew); theirs names are What and Why and When And How And Where and Who. - Rudyard Kipling

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slate.com

Vision is the art of seeing what is invisible to others. - Jonathan Swift

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blog.redbubble.com

Disaggregation of risk from reward is the fundamental cause of all problems. - Steve Eisman

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Chris DeMuth Jr

What is a moderate interpretation of the text? Halfway between what it really means and what you'd like it to mean? - Antonin Scalia

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Chris DeMuth Jr

Individual liberty, the basic underpinning of American society, requires constant defense against the encroachment of the state. - Paul Singer

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Chris DeMuth Jr

The word "arbitrage" in academia means "certain profits," whereas in practical investing, arbitrage often means "a trade we kind of like." Some in the industry adhere to a perhaps reasonable middle ground: that arbitrage is not riskless, but unlike much of investing, it involves going long and short very similar securities and betting on a price difference. I can live with that. But it is clear that many use it in the loosest sense and, therefore, strip it of its meaning. - Cliff Asness

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Chris DeMuth Jr

Life to me means the greatest of all games. The danger lies in treating it as a trivial game, a game to be taken lightly, and a game in which the rules don’t matter much. The rules do matter greatly. The game has to be played fairly, or it is no game at all. And even to win is not the chief end. The chief end is to win honorably and splendidly. - Sir Ernest Shackleton

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bbc.co.uk