A law of nature， lex naturalis， is a precept or general rule found out by reason， by which a man is forbidden to do that which is destructive of his life or takes away the means of preserving the same.

We must constantly look at things in a different way.

"You’ve got about as much charm as a dead slug."

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.