sâmbătă, 4 octombrie 2014

Investment sayings - XI

About simplicity

"We have a passion for keeping things simple." -Charles Munger


"The art of being wise is the art of knowing what to overlook." -William James


"Part of that [having uncommon sense], I think, is being able to tune out folly, as distinguished from recognizing wisdom. You've got whole categories of things you just bat away so your brain isn't cluttered with them. That way, you're better able to pick up a few sensible things to do." -Charles Munger


"Yeah, we don't consider many stupid things. I mean, we get rid of 'em fast...Just getting rid of the nonsense -- just figuring out that if people call you and say, 'I've got this great, wonderful idea', you don't spend 10 minutes once you know in the first sentence that it isn't a great, wonderful idea...Don't be polite and go through the whole process." -Warren Buffett


"The harder you work, the more confidence you get. But you may be working hard on something that is false." -Charles Munger


“Simplicity means the achievement of maximum effect with minimum means.” -Koichi Kawana


“Order and simplification are the first steps toward the mastery of a subject.” -Thomas Mann


“A theory is the more impressive the greater the simplicity of its premises, the more different kinds of things it relates, and the more extended its area of applicability.” -Albert Einstein


“To avoid the various foolish opinions to which mankind are prone, no superhuman genius is required. A few simple rules will keep you, not from all error, but from silly error.” -Bertrand Russell


“There is a master key to success with which no man can fail. Its name is simplicity. Simplicity, I mean, in the sense of reducing to the simplest possible terms every problem that besets us. Whenever I have met a business proposition which, after taking thought, I could not reduce to simplicity, I have left it alone.” -Henri Deterding


“The ability to simplify means to eliminate the unnecessary so that the necessary may speak.” -Hans Hofmann


“There never was a sounder logical maxim of scientific procedure than Ockham’s razor: Entia non sunt multiplicanda praeter necessitatem. That is to say; before you try a complicated hypothesis, you should make quite sure that no simplification of it will explain the facts equally well.” -Charles Sanders Peirce


Charles Sanders Peirce (September 10, 1839 – April 19, 1914) was an American philosopher, logician, mathematician, and scientist, sometimes known as "the father of pragmatism". He was educated as a chemist and employed as a scientist for 30 years. Today he is appreciated largely for his contributions to logic, mathematics, philosophy, scientific methodology, and semiotics, and for his founding of pragmatism.


Koichi Kawana ( born March 16, 1930 in Hokkaido – 1990) native garden designer, college professor, and architect. He has designed gardens in San Diego, Los Angeles, Denver, Colorado, Chicago, Illinois, Memphis, Tennessee, and St. Louis, Missouri. Some of his major works include the Seiwa-en Japanese Garden in the Missouri Botanical Garden and the Japanese Friendship Garden in San Diego's Balboa Park.


Paul Thomas Mann (6 June 1875 – 12 August 1955) was a German novelist, short story writer, social critic, philanthropist, essayist, and the 1929 Nobel Prize in Literature laureate. His highly symbolic and ironic epic novels and novellas are noted for their insight into the psychology of the artist and the intellectual. His analysis and critique of the European and German soul used modernized German and Biblical stories, as well as the ideas of Goethe, Nietzsche and Schopenhauer. Mann was a member of the Hanseatic Mann family and portrayed his family and class in the novel Buddenbrooks.


Warren Edward Buffett (born August 30, 1930) is an American business magnate, investor and philanthropist. He was the most successful investor of the 20th century. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway, and consistently ranked among the world's wealthiest people. He was ranked as the world's wealthiest person in 2008 and as the third wealthiest in 2011. In 2012 Time named Buffett one of the world's most influential people.


Charles Thomas Munger (born January 1, 1924) is an American business magnate, lawyer, investor, and philanthropist. He is Vice-Chairman of Berkshire Hathaway Corporation, the diversified investment corporation chaired by Warren Buffett; in this capacity, Buffett describes Munger as "my partner." Munger served as chairman of Wesco Financial Corporation from 1984 through 2011 (Wesco was approximately 80%-owned by Berkshire-Hathaway during that time). He is also the chairman of the Daily Journal Corporation, based in Los Angeles, California, US, and a director of Costco Wholesale Corporation.