Don't give up

Much is made of genius and talent, but the foundation of any life where you get to realize your ambitions is simply being able to out-last everyone through the tough, crappy times — whether through sheer determination, a strong support network, or simply a lack of options.


jeffjlin.com

Computers


Computers are incredibly fast accurate and stupid. Human beings are incredibly
slow innacurate and brilliant. Together they are powerful beyond imagination.
 
Albert Einstein

Europe


  • As a Frenchman, as a European, I want a diverse Europe in which each nation is managed by its own elected people. If the nation chooses to be poorly managed—so be it, this is what democracy is all about. I am not interested in a Europe where the standard of living falls precipitously for a large part of the population, nor am I interested in humiliating what were once proud countries in the hope that they desert their old deities and accept a new god.And neither do I want to be administered by unelected technocrats delegated by the northern Europeans on the flimsy pretext that my own politicians are useless; they may be hopeless, but I am entitled to have them that way.

    What the eurocrats offer under the banner of "reform" is nothing of the sort but just an increase in their power and the destruction of the incredible diversity which made Europe an endlessly fascinating place. 

    It is time to return to market prices and democracy and to accept that technocracy cannot work. I love Italy more and more. Indeed, for the first time in years, I can envisage a situation in which I feel bullish on Europe.

    Charles Gave from Gave kal about the Italian Elections

    I agree with him, Italy just show the Eurocrats that they can't impose rules that no state wants to obey, before the euro we had a valve and we can live with that (devaluations). The euro rules are like stating that all the students can only study 1 hour a day. With this system only the smart pupils can have success. With the normal system a dumb student can study 10 yours a day and have good marks too. All the European rules that try to standardized all countries are not the good for the inefficient south.

Does this make sense?


The best advice I ever received came from my dad, Don Clifton. It was actually a piece of simple, yet profound wisdom that has shaped my life. 'Your weaknesses will never develop,' he told me, 'while your strengths will develop infinitely.'"

Jim Clifton, CEO of Gallup


I agree 100% with this quote, because of specialization we should be the best in one field and our life would be easier. Therefore we should invest the most where we have a small natural gift. I am always encouraging my oldest son to bet everything in Maths. It's better to be the top dog in math's and average  or even below average in all else than to be a bit above average in everything. I do this because he has good marks in math without a lot of effort.

What is my job?

Your job as a trader is to make the line [your equity curve] go from bottom left to top right. That's it. Don't get hung up on other supposed "mandates". Protect your capital and the direction of that equity line.

Lessons from Hedge Fund Market Wizards: Steve Clark

http://financetrends.blogspot.pt/2013/02/lessons-from-hedge-fund-market-wizards.html

UK is no longer AAA


Moody’s and S&P respectively as well as the current ratings outlook.

Moody’s – Aaa Rating
Outlook
Australia Stable
Austria Negative
Canada Stable
Denmark Stable
Finland Stable
Germany Negative
Isle of Man Stable
Luxembourg Negative
Netherlands Negative
New Zealand Stable
Norway Stable
Singapore Stable
Sweden Stable
Switzerland Stable
United States of America Negative

A masterpiece of understatement

Ladies and gentlemen, this is your captain speaking. We have a small problem. All four engines have stopped. We are doing our damnedest to get them going again. I trust you are not in too much distress.[

Captain Eric Moody in 1982 in a BA plane that was really falling into the ocean (Happy ending, the engines were re-started)

Read more: http://www.businessinsider.com/captain-announcement-after-all-four-engines-failed-2013-2#ixzz2LrWZ94SY