The boundaries of our knowledge are the frontiers of our imagination.
最大的风险就是不冒任何风险。在一个快速变化的世界里,唯一注定失败的策略就是不冒险。
Trend-following is not such a good model. It’s simply eroded. Things change and being able to adjust is what made Mr. Simons so successful. “Statistic predictor signals erode over the next several years; it can be five years or 10 years. You have to keep coming up with new things because the market is against us. If you don’t keep getting better, you’re going to do worse.
Do not be avaricious; do not be a recluse.