There is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation.
You're not going to be different ... you're going to be the same as you've always been; with doubts, everlasting dissatisfaction with yourself, vain efforts to amend, and falls, and everlasting expectation, of a happiness which you won't get, and which isn't possible for you.
I didn't listen to half of the criticism I received. I just didn't let it enter my brain. It affects people around me, but it was my job to see through that. When you are in charge of a top club, where expectations are high you have to deal with that.
We're coming off a quarter here that was in-line with our expectations, but much lower at WPZ due to Geismar's extended outage and a continued heavy capital investing period all as was expected.
There are varieties of theories of revolution. According to one of these theories, only one of these theories, revolutions occur when there is an explosion of rising expectation. And amongst the lower strata in Iranian society, we are witnessing an increasing rise of the expectation and it's clear that the regime is incapable of satisfying these demands.
The fourth (of the four cardinal virtues) is supportiveness: this manifests as service to others without expectation of reward. (Paraphrased: Such service is not a mere conforming to some external rule of behavior, but instead a manifestation of your original nature).
I never had one hour's happiness in her society, and yet my mind all round the four-and-twenty hours was harping on the happiness of having her with me unto death.
Expectations always lead to frustrations. Expectations are the seeds, and frustration is the crop that sooner or later you will have to reap. It is your own doing.