Showing posts with label Quote. Show all posts
Showing posts with label Quote. Show all posts

Sunday, March 02, 2008

Perspective of the Giants: Warren Buffett

The name of the blog is Underground Value; and they have a great quote from second-richest-man Warren Buffett as part of an interview with him.

The difference between potential and output comes from human qualities. You can make a list of the qualities you admire and those you despise. To turn the tables, think if this is the way I react to the qualities on the list, which is the way the world will react to me. You can learn to turn on those qualities you want and turn off those qualities you wish to avoid. The chains of habit are too light to be felt until they are too heavy to be broken. You can’t change at 60; the time to look at that list is now.

Saturday, February 09, 2008

The Economics of Hope

Hope: An expectation and wish; “a belief in a positive outcome related to events and circumstances in one's life. Hope implies a certain amount of — i.e. believing that a positive outcome is possible even when there is some evidence to the contrary.

As part of my job I routinely travel between Grand Junction, CO and Vail and Aspen, CO. To pass the time between stops I often find myself listening to talk radio. My talk radio of choice between the hours of 10 a.m. and 1 p.m. in the Mountain Time Zone is Rush Limbaugh, conservative radio talk show host extraordinaire.

Firstly, before I go any further, I’ll mention something that I’ve said in the past: I’m not bringing this up as a political conversation; frankly, a person’s politics are akin to their religious or spiritual beliefs—they are personal and don’t have any bearing on any discussion in this forum; they merely act as a filter with which each of us process the world around us.

With that said, Rush had a monolog this week which depicted hope in a light different than I had ever looked at it before. It was very interesting in how it helped to re-shape my interpretation of the behavioral phenomenon. Let’s set the stage; from the transcript of the Rush Limbaugh Program on 5 February 2008:

Hope is the logical extension of people who think they don't matter to anything, and a lot of people don't like not mattering. Everybody wants to have meaning in their lives. So if you hope for good things, if you hope for a better country, "I matter, because I care, because I hope for a better country."

In this context, Rush sets up hope as being a manifestation of “one of those emotions which make one feel better about themselves,” a self-serving emotion, in other words. Hope is the stepchild of sympathy. It's like sympathy. You can have sympathy for somebody. Sympathy for the position of one’s self in the events of a greater scheme of things, sympathy for those in the path of the events which are part of such a greater scheme of things? Don’t get me wrong—no emotion is wrong or invalid; judging an emotion is outside the scope of this text or, even, my interest. What is within the boundaries of my interest and this text, however, is the effectiveness of such a feeling. What is the economics of hope?

A famous U.S. Senator and 2008 Presidential Candidate, Barack Obama, rose to fame in the Democrat political party in the United States, in part, by a 20-minute keynote at the 2004 Democratic Convention, which turned into a book by the same name, “The Audacity of Hope.”

Audacity: “Courage, resolution, boldness.”

“The courage of hope,” “the resolution of hope,” “the boldness of hope;” yes, all are good things…but as a principle which produces anything…hope can only go so far. The man behind the audacity of this hope was one that triumphed over his surroundings by conquering them, by besting his circumstances, exploiting opportunities, and staying true to the notion that action needed to be coupled with such hope.

Politicians, the consummate marketers which they are, try and sway our actions via votes and other support by trying to sway our emotions—in their view, a person will go to where their heart takes them. We are all constantly wooed by images of presidential candidates crafted by the individual campaigns themselves and by the media which reports (and also attempts to sway opinion) on the various players involved. The Democrats like to offer change. People hope for change, and so they vote for the Democrat which they feel will bring the most change. The Republicans, on the other hand, offer everything from a war hero to a master of the business world to a former governor in favor of the Fair Tax Plan and a minor contender which offers a strict Libertarian view on pretty much everything. Just about everyone is trying to appeal to our emotions in some form or another. Mostly, they’re trying to appeal to our emotion of hope, the courageous thing which it is.

However, hope is just that: An emotion which can satisfy that we’re a part of the process; because as long as we can hope for a better solution, we’re a part of that solution, right?

From the perspective of the 2008 race for candidates for U.S. President, in the words of Rush Limbaugh: The discussion of hope from a political leader is pure poppycock. It's empty; it's transparent; there's nothing there. It is totally devoid of substance.

Let’s take a step back, into a perspective more personal to you and me: Each of us have, at some point in time or in our lives currently, had hope; we have had hope for a good outcome to be realized, for our New Year’s Resolutions to take hold, or just to make it through the next day. Hope, however, is a short-term thing in these instances. Sooner or later, by itself, hope fizzles and the outcome which you had hoped to realize can quickly turn into worse, even less productive emotions: Self-inflicted suffering. Because hope didn’t allow you to realize the outcome which you had in mind, a person can quickly turn to loathing and lose hope.

[N]one of us can predict the outcomes in our lives, and so many of us use hope as a bridge to the eventual outcome we hope for from event to event or circumstance to circumstance…"Gosh, I hope I don't get fired next week." Start thinking I'm going to get fired or whatever it is, you generally end up thinking the negative. Now, people mistakenly place hope as the sentiment or the emotional state that will lead to the outcome of things, "Oh, gosh I really so hope this happens." But that's basically an excuse for not doing anything, for not trying, and so what you're doing is you're setting yourself up to have to deal with whatever happens, probably negatively, because you're not allowing yourself to be part of the equation to get the result that you want.

Rush pegged the remedy as well: [I]n my experience…my hoping for something never made it happen. My desire for something did.

Desire: “Want strongly.”Have you ever wanted something? Have you ever wanted something a lot? If you were to place degrees of “want” onto a specific outcome, the greater the degree of your desire for that outcome to happen, the more effort which you would likely put into achieving that desired outcome. The key is so easy: Actively make yourself a part of the equation which makes something happen.

I love real-world examples, perhaps you do, also:

"What's hope ever accomplished? Did Bill Gates hope when he was in school that he'd find the secrecy to the MS-DOS system getting on every freaking computer, or did he go do it?"

In and of itself, hope is not very useful past the warm and fuzzy feelings which it gives you. The more productive emotion, the more economical one, is that of desire…especially the sort which leads to action.

Wednesday, January 09, 2008

Quote: Extraordinary People

One machine can do the work of fifty ordinary men. No machine can do the work of one extraordinary man.
—Elbert Hubbard, The Roycroft Dictionary and Book of Epigrams, 1923

Tuesday, January 08, 2008


To commemorate the last address Bill Gates will give at the Consumer Electronics Show as the Chairman of Microsoft, a quote from one of the biggest visionaries of our time:

If GM had kept up with technology like the computer industry has, we would all be driving $25 cars that got 1000 MPG.
—Bill Gates, Chief Software Architect and Chairman, Microsoft

Monday, January 07, 2008

Quote: They Can't Get Away Now!


All right, they're on our left, they're on our right, they're in front of us, they're behind us... they can't get away this time.
—Lieutenant General Lewis "Chesty" Burwell Puller, U.S. Marine Corps

Sunday, January 06, 2008

Quote: Judgment and Experience

"Good judgment comes from experience and experience comes from bad judgment."
—Unknown

Wednesday, November 21, 2007

Warren Buffet Quote

He's been called "The Oracle of Omaha," but by many accounts his personality is just that of a farmer or other tradesman from the Midwest. Money has not inflated his ego at all. For a man who has been as liberal as he has, though, he certainly has a fiscally conservative view. Interesting.

I don't have a problem with guilt about money. The way I see it is that my money represents an enormous number of claim checks on society. It's like I have these little pieces of paper that I can turn into consumption. If I wanted to, I could hire 10,000 people to do nothing but paint my picture every day for the rest of my life. And the GNP would go up. But the utility of the product would be zilch, and I would be keeping those 10,000 people from doing AIDS research, or teaching, or nursing. I don't do that though. I don't use very many of those claim checks. There's nothing material I want very much. And I'm going to give virtually all of those claim checks to charity when my wife and I die.

Tuesday, October 16, 2007

Food for Thought

What separates the winners from the losers?

"I'll try means I'll fail."

Thursday, August 16, 2007

“There are lies…”

Lies

Tell an untruth; pretend with intent to deceive. A popular television series, which I like to watch when I can, House, MD, has a lead character—Dr. Gregory House—who believes that everyone lies. Why do people lie to one another? Wikipedia, home to the collaborative intellectual knowledge of the masses, states that lies are told because people have the “intention to deceive, maintain a secret or reputation, or to avoid punishment. As a whole, people want to be perceived in a certain way: Strong, powerful, helpful, kind, etc. They also want to keep portions of their life that they intentionally keep hidden from the world in that persistent state. Lastly, people generally seek pleasure and avoid pain. While punishment runs the gamut from the type of discipline that a parent gives to a child, it could also mean the shame given to a person from a societal perspective for doing things that are against the norm or outside other acceptable boundaries.

With the exception of psychopathic personality types, however, most people aren’t serial liars. Any poker player will tell you that each person has their “tells.” Any individual that is familiar with the operation of a lie detector understands the mechanics of the human body when they tell something that they know to be a mistruth. People who deal with other people enough has the experience to tell you what to look for in what a person says and does in regards to truths and lies.

Damned Lies

The thing to look out for here is the individual who doesn’t know that they are lying. While lying is mostly a matter of intent, it could also be considered a tool of the manipulative in order to gain control over the situation. In this respect, serial liars can take advantage situations by not being able to tell the difference between what a factual reality is and what things are fabricated. They will not have the “tells” of a person who feels guilty for their actions because they do not have the capacity to feel guilt for their transgressions.

Statistics

Believe it or not, everyone has an agenda. Some might be simple enough: Get through my day and get home so I can relax. Others might be more insidious: Take over the world. Most fall in between. At any rate anyone may use statistics to get their point across, draw someone to action, and control their environment towards the outcome which they desire. Take, for instance, this insurance scenario:

Suppose that a zealous insurance CEO asks his statistician if drivers with two or more tickets in a three-year period were more likely to have an accident.[1] He would soon report back that drivers with two or more tickets have almost twice [2] the chance of having an accident.

Wow! Twice the accident rate! What fools! The CEO might think that by hitting these guys with higher premiums, he might make them think about their careless driving habits. Maybe it will teach them a lesson. The company can make quite a bit more profit, as other insurers are not going to try and steal the worst drivers away. Furthermore, the state motor vehicle departments start thinking about taking away these driver's licenses. Everybody thinks that these guys have to be gotten off the road before they kill themselves or someone else. Unfortunately, they aren't careless drivers. According to the assumptions, they are equally good at driving as everybody else. The statistics lied. The difference in mileage exposure alone is enough to produce a strong correlation between tickets and accidents.

While tickets isn’t, in and of itself, a contributable factor inasmuch as it indicates the entire risk that any one client is going to be for an insurance company if this were something that were correlated to the distance that a person drives in any given year, it may then gain more credibility. All things being equal, consider the case between the younger man and the older woman. Maybe the younger man doesn’t want to put down that he drives twice the norm in a given year—30,000 miles—while the older lady decides that she doesn’t want to let the insurance company know that she only drives a couple thousand miles each year. Either way, these individuals are likely to let the insurance company know something different about their driving habits either through inflating or deflating their numbers, respectively.

And the Truth…

In the end it is a good idea to remember that the human instinct is correct a good majority of the time, at least for those things within our own purview. Experts may be able to pull out statistics and serial liars may be able to influence your actions with their finely-honed skills, and everyday people might baffle you will bull…but in the end just make sure to do your research and trust your own gut.

Friday, July 20, 2007

Quote: Loyalty

"When we are debating an issue, loyalty means giving me your honest opinion, whether you think I'll like it or not. Disagreement, at this state, stimulates me. But once a decision is made, the debate ends. From that point on, loyalty means executing the decision as if it were your own."
—General Colin Powell

Friday, July 13, 2007

Quote: Success

"The person who gets the farthest is generally the one who is willing to do and dare. The sure-thing boat never gets far from shore."
Dale Carnegie

Thursday, July 12, 2007

Quote: Skepticism

"Doubt everything or believe everything: These are two equally convenient strategies. With either we dispense with the need for reflection."
Henri Poincare

Tuesday, July 10, 2007

Quote: Tenacity and Decisions

The most difficult thing is the decision to act, the rest is merely tenacity. The fears are paper tigers. You can do anything you decide to do. You can act to change and control your life; and the procedure , the process is its own reward.


Amelia Earhart

Monday, July 02, 2007

Quote: The Appreciated Staff

"An underappreciated employee is an unhappy employee. An unhappy employee is an unproductive employee. When your staff knows they are valued, they will value the company."
—Unknown

Thanks go out to Jennifer for the quote. Thanks, Jen!

Saturday, June 30, 2007

Quote: Chances

Use the formulae P=40 to 70, in which P stands for the possibility of success and the numbers indicate the percentage of information acquired. Once the information is in the 40 to 70 range, go with your gut.
—General Colin Powell, U.S. Army (Retired), Former United States Secretary of State

Tuesday, June 26, 2007

Quote: Leadership

Leadership is the art of accomplishing more than the science says is possible.
Oren Harari, author, talking about retired U.S. Army General Colin Powell

Quote: Defeat

Once we have a war there is only one thing to do. It must be won. For defeat brings worse things than any that can ever happen in war.
—Ernest Hemmingway, Author

Monday, June 25, 2007

Quote: Listening

When people talk, listen completely. Most people never listen.
Ernest Hemingway

Sunday, June 24, 2007

Quote: Plans

"The greatest enemy of a good plan is the dream of a perfect plan."
-- Karl von Clauswitz, Prussian General

The Truth

Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth.
Marcus Aurelius