"People would be a lot more skeptical if they understood that there is an incredible amount of chance in the results that you observe for active managers. So the distribution of outcomes is enormously wide - but that's exactly what you'd expect by chance with lots of active managers who hold imperfectly diversified portfolios. The really good portfolios contain a lot of really lucky picks, and the really bad portfolios contain a lot of really unlucky picks as well as some really bad ones."

Source : "A Father of Modern Finance" by Rebecca Rolfes, www.chicagobooth.edu. 2013.

Eugene Fama

#People Quotes #Would Be Quotes #Lucky Quotes

“I wear my crown of thorns on my liars chair, full of broken thoughts I cannot repair, beneath the stain of time the feelings disappears. What have I become, my sweetest of friends?”
“The truly ambitious are always as busy on the landings as they are breathless on the stairs.”
“There's just something beautiful about walking on snow that nobody else has walked on. It makes you believe you're special.”

Source : Carol Rifka Brunt (2012). “Tell the Wolves I'm Home: A Novel”, p.31, Dial Press
“Once established, reputations do not easily change.”

Source : "Social Foundations of Thought and Action: A Social-Cognitive Theory". Book by Albert Bandura, www.uky.edu. 1986.
“There is supercomputer somewhere in the Nevada desert whose sole function is to count the number of times that I have said the following, because it is unquantifiable by human minds at this point, but this time itâ€™s really true: I should have stayed home.”
“If the soul is impartial in receiving information, it devotes to that information the share of critical investigation the information deserves, and its truth or untruth thus becomes clear. However, if the soul is infected with partisanship for a particular opinion or sect, it accepts without a moment's hesitation the information that is agreeable to it. Prejudice and partisanship obscure the critical faculty and preclude critical investigation. The results is that falsehoods are accepted and transmitted.”
“The commercial media are to the mental environment what factories are to the physical environment”

Source : Kalle Lasn (2013). “Culture Jam: How to Reverse America's Suicidal Consumer Binge--any Why We Must”, p.18, Harper Collins
“A lot of people have said it to me 'You made me cry.' And it was only because I cried myself when I watched the movie.”

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