Covered Quotes

As a result of overdiversification, their (active managers) returns get watered down. Diversification covers up ignorance. Active managers haven’t done enough research into any of their companies. If managers have 200 positions, do you think they know what’s going on at any one of those companies at this moment?

Policemen and security guards wear hats with a peak that comes down low over their eyes. Apparently this is for psychological reasons. Eyebrows are very expressive and you appear a lot more authoritative if you keep them covered up. The advantage of this is that it makes a lot harder for cops to see anything more than six foot off the ground. Which is why painting rooftops and bridges is so easy.

Share via