(a) "History won't repeat itself but it sure will rhyme" - Mark Twain

(b) Chain reaction type events are understood in the context of that which went before.

(c) Success carries within itself the seeds of failure and failure the seeds of success.

(d) "Air goes out of the balloon faster than it goes in"

• Asymmetry of cycles

(e) Two types of company leverage

• Operating leverage (fixed cost basis)
• Financial leverage (debt)

(f) "It's not the data, it's the interpretation, which depends on psychology"

• Selective perception
• Skewed interpretation

(g) "The less prudence with which others conduct their affairs, the more prudence with which we should conduct our own" - Warren Buffett

#Investing #Top-Reads