The Red Sox Are A Curious Thing

Yet Another Hedge Fund Manager Explained Icelandic Banking To Me This Way: You Have A Dog, And I Have A Cat. We Agree That Each Is Worth A Billion Dollars. You Sell Me The Dog For A Billion, And I Sell You The Cat For A Billion. Now We Are No Longer Pet Owners But Icelandic Banks, With A Billion Dollars In New Assets.

Time And Space Are Absolute. Diseases Are Evil Spirits That Inhabit The Body. Parallel Lines Never Meet. The Earth Is The Center Of The Universe. Children Are Miniature Adults. At One Time In History Each Of These Beliefs Was Generally Held To Be True. Each, However, Gave Way To Different Ideas And Even Different World Views.

We Change For The Good So Long As Good Exists Around Us.

A Banking System Is An Act Of Faith: It Survives Only For As Long As People Believe It Will.

The Inability To Envision A Certain Kind Of Person Doing A Certain Kind Of Thing Because You've Never Seen Someone Who Looks Like Him Do It Before Is Not Just A Vice. It's A Luxury. What Begins As A Failure Of The Imagination Ends As A Market Inefficiency: When You Rule Out An Entire Class Of People From Doing A Job Simply By Their Appearance, You Are Less Likely To Find The Best Person For The Job.