Rolf Dobelli on news consumption

News is for the mind what sugar is for the body. News is appetizing, easily digestible and at the same time extremely harmful. The media feed us small snippets of trivial stories, treats that in no way satisfy our hunger for knowledge. Unlike books and long, well-researched, long articles, there is no saturation when it comes to news consumption. We can devour unlimited amounts of messages; they remain cheap sugar candies. As with sugar, the side effects only become apparent with a delay.

That's why I haven't read a newspaper, consumed online news, watched a TV or listened to the radio for almost ten years.

~ Rolf Dobelli, "News lunch," Dobelli.com, March 2019

Nassim Taleb on risk management

Wisdom is knowing what to worry about and what to ignore.

~ Nassim Taleb, tweet, February 27, 2020

Tom Woods on the difference between economics and entrepreneurship

"If you know so much about economics, how come you're not rich?" People really ask that sometimes.

Economics helps us understand how the world works, which policies will make us prosperous and which impoverished. It helps us understand the role of the entrepreneur, which according to Mises is to arrange resources so they add the most value for consumers.

It's easy to understand what the entrepreneur does. But:

It's not easy to understand how the entrepreneur does it. And that's pretty much the whole sack of potatoes, is it not?

~ Tom Woods, March 4, 2020

Peter Atwater on socially responsible investing

ESG is the WeWork of money management.

~ Peter Atwater, Twitter post, March 4, 2020

Fortune cookie: "The architect of your destiny..."

The architect of your destiny is yourself.

~ fortune cookie

Kevin Duffy on the 785 point drop in the stock market after Fed intra-meeting 1/2% rate cut

The stimulus drug no longer works.  Now what?  Worse, the drug did tremendous damage.  How much?  We're about to find out.

~ Kevin Duffy, Twitter post, March 3, 2020, 2:30 PM ET

Frédéric Bastiat on the three economic "isms"

Protectionism, socialism, and communism are basically the same plant in three different stages of its growth.

~ Frédéric Bastiat