Some writers claim to extrude a book at an even rate like toothpaste from a tube, or to build a story like a wall, so many feet per day. They sit at their desk and knock off their word quota, then frisk into their leisured evening, preening themselves. This is so alien to me that it might be another trade entirely.
What is something everyone in your world agrees about that you think is wrong?
Question
If you could have a gigantic billboard anywhere, what would it say and why?
Time & hindsight
Over the past two centuries, our nation has moved from being an agricultural economy, to a manufacturing economy, to a service economy, and now to a predominantly financial economy. But our financial economy, by definition, subtracts from the value created by our productive businesses. Think about it: while the owners of business enjoy the dividend yields and earnings growth that our capitalistic system creates, those who play in the financial markets capture those investment gains only after the costs of financial intermediation are deducted. Thus, while investing in American business is a winner's game, beating the stock market before those costs is a zero-sum game. But after intermediation costs are deducted, beating the market—for all of us as a group—becomes a loser's game.
Georgetown University commencement, Georgetown University / johncbogle.com, 18 May 2007 source ↗
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Hilary Mantel
Novelist and critic
Eleanor Roosevelt
First Lady of the United States 1933–1945; United States Delegate to the United Nations General Assembly 1945–1952; Chair of the UN Commission on Human Rights 1946–1951
Our trouble is that we do not demand enough of the people who represent us. We are responsible for their activities… we must spur them to more imagination and enterprise in making a push into the unknown; we must make clear that we intend to have responsible and courageous leadership.
Recorded
Tomorrow is Now, published posthumously, Eleanor Roosevelt Papers Project, The George Washington University, 1963
source ↗
Elizabeth Blackburn
Molecular biologist; Nobel laureate in Physiology or Medicine, 2009
Yes, and, I'll turn your comment around and say it's fairly close to the biological ratio of men and women. It's all the other fields that are aberrant. … This is the normal field, right? Because it is a much more even distribution between men and women, absolutely.
Recorded
Adam Smith, Telephone interview recorded immediately after the prize announcement, Nobel Prize Outreach, 5 October 2009
source ↗
Howard Marks
Co-founder and co-chairman of Oaktree Capital Management
In my opinion, the key to dealing with the future lies in knowing where you are, even if you can't know precisely where you're going. Knowing where you are in a cycle and what that implies for the future is very different from predicting the timing, extent and shape of the next cyclical move.
More from John C. Bogle
View profile →There's the world's work to be done, and there are never enough citizens with determined hearts, courageous character, intelligent minds, and idealistic souls to do it. Yes, our world already has quite enough guns, political platitudes, arrogance, disingenuousness, self-interest, snobbishness, superficiality, war, and the certainty that God is on one side or the other. But it never has enough conscience, nor enough tolerance, idealism, justice, compassion, wisdom, humility, self-sacrifice for the greater good, integrity, courtesy, poetry, laughter, and generosity of substance and spirit. It is these elements that I urge you to carry into your careers, and remember that the great game of life is not about money; it is about doing your best to build the world anew.
Recorded
Georgetown University commencement, Georgetown University / johncbogle.com, 18 May 2007
source ↗
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