The key to risk management is prevention and early warning.

I don’t play for the crowd, I play for myself.

小猪：“‘爱’这个字是怎么写的?”维尼：“爱不是写出来的，是感觉到的。”

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.

死亡之所以紧紧跟随生命，不是因为生物学的必然性，而是因为嫉妒。生命如此美丽，以至于死亡爱上了它，这是一种嫉妒的、占有欲强烈的爱，它会抓住它能抓住的一切。