"t any point in time, the richest traders are often the worst traders. This I will call the cross-sectional problem: At a given time... the most successful traders are likely to be those fit for the latest cycle."

“To be completely cured of newspapers, spend a year reading the previous week’s newspapers.”

“Professor Karl Pearson... devised the first test of nonrandomness... He examined millions of runs of what was called a Monte Carlo ... He discovered... the runs were not purely random. ...Philosophers of statistics call this the reference case problem to explain that there is no true attainable randomness in practice, only in theory.”

“Academia is to knowledge what prostitution is to love.”

“Greatness starts with the replacement of hatred with polite disdain.”

“When conflicted between two choices, take neither.”

“Wit seduces by signaling intelligence without nerdiness.”