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[Donald Trump] hedging his bets because he's used to buying politicians.
Sep 25, 2025
So, in a way I was hedging and saying that if the Olympic stuff doesn't work out at least I can be a lawyer.
I was hedging my bets by the time I got to college. I was interested in drama and journalism and psychology.
This was not some pretty little girl, coyly flirtatious, delicately stimulated. This was the mature female of the species, vivid, handsome and strong demanding that all the life within her be matched. Her instinct would detect any hedging, any dishonesty, any less than complete response to her - and then she would be gone for good.
I used to pile on the detail, which was probably a way of hedging my bets while I was working out my own way of doing things. I've cut it back over the years, but some of the descriptions can still be still pretty dense. So the answer is somewhere between fairly detailed and maybe too detailed. Fortunately, people are seeing the final pages and not my raw script.
I've had that my whole career. People were always hedging around the question of: Why are you so dark? What happened to you?
If the guy out in the woods with the Michigan Militia is a real estate negotiator, instead of some crackpot, and has a normal life, that's unnerving. You don't want to think it's as normal as the guy next door, hedging his lawn. It's easier to demonize or separate them off from 'us.'
As value investors, our business is to buy bargains that financial market theory says do not exist. We've delivered great returns to our clients for a quarter century-a dollar invested at inception in our largest fund is now worth over 94 dollars, a 20% net compound return. We have achieved this not by incurring high risk as financial theory would suggest, but by deliberately avoiding or hedging the risks that we identified.
They (the youth of Australia) are out there clamouring in all forms of voice, and they are not so much hedging us older Australians aside as saying, 'For heaven's sake, listen to us and empower us to help drive this country towards a wonderful future.'
You should avoid hedging, at least that's what I think. You should be ashamed to die until you've made some contribution to mankind.
My second Christian name is John. Good solid bourgeois Christian name, like my first name, Peter, a rock. Minerals. Build on rock, rocks, uranium. Peter and John were two of the twelve apostles - arguable the two most significant. Were my parents hedging their bets?
Ben's Mr. Market allegory may seem out-of-date in today's investment world, in which most professionals and academicians talk of efficient markets, dynamic hedging and betas. Their interest in such matters is understandable, since techniques shrouded in mystery clearly have value to the purveyor of investment advice. After all, what witch doctor has ever achieved fame and fortune by simply advising 'Take two aspirins'?
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