Warren Buffett on the value of bear markets

The best chance to deploy capital is when things are going down.

~ Warren Buffett

Olivia Newton-John on her cancer struggle

I look at my cancer journey as a gift: It made me slow down and realise the important things in life and taught me to not sweat the small stuff.

~ Olivia Newton-John, 1948-2022

Olivia Newton-John on learning

My biggest mistake was my best lesson... you don't learn anything when everything is going perfectly.

~ Olivia Newton-John, RIP

Peter Lynch on investing

Selling your winners and holding your losers is like cutting the flowers and watering the weeds.

~ Peter Lynch

The Economist on the 2020-21 government borrowing binge

In recent years government debt appeared to matter less and less even as countries borrowed more and more.  Falling interest rates made debts cheap to service, even as they grew to levels that would have seemed dangerous a generation before.  The pandemic put both trends into overdrive: the rich world borrowed 10.5% of its gdp in 2020 and another 7.3% in 2021, even as long-term bond yields plunged.  Now central banks are raising interest rates to fight inflation and public debt is becoming more burdensome.  Our calculations show that government budgets will feel a squeeze far more quickly than is commonly understood.

~ The Economist, "How higher interest rates will squeeze government budgetsRising borrowing costs will hit taxpayers sooner than you think," July 12, 2022

Rolf Dobelli on long-term thinking and persistence

Once you've identified your circle of competence, stick to it as long as possible.  Likewise if you find a good spouse, a suitable place to live or a rewarding hobby.  Perseverance, tenacity and long-term thinking are highly valuable yet underrated virtues.

~ Rolf Dobelli, The Art of the Good Life, "The Secret of Persistence," p. 61

Bill Russell on teamwork

The most important measure of how good a game I played was how much better I’d made my teammates play. 

~ Bill Russell, 1934-2022