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It is not the critic who counts...the credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, and comes short again and again; because there is not effort without error and shortcoming; but who does actually strive to do the deeds; who knows the great enthusiasms, the great devotions; who spends himself in a worthy cause, who at the best knows in the end the triumphs of high achievement and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who know neither victory nor defeat. -- Theodore Roosevelt Assume you have 10,000 people who flip a coin once a year. After five years, you will have 313 people who have come up with heads five times in a row. If you put suits on them and sit them in glass offices, call them a mutual or a hedge fund, they will be managing a billion dollars. They will absolutely believe they have figured out the secret to investing that all the other losers haven't discerned. Their 7 figure salaries prove it. The next year, 157 of them will blow up. With my power of analysis, I can predict which one will blow up. It will be the one in which you invest! -- www.prudenttrader.com Who the hell wants to hear actors talk? --H.M Warner, Warner Brothers, 1927 That Professor Goddard...does not know the relation of action to reaction, and of the need to have something better than a vacuum against which to react -- to say that would be absurd. Of course he only seems to lack the knowledge ladled out daily in high schools -- 1921 NY Times editorial about Goddard's work on the first rocket This "telephone" has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us. -- Western Union internal memo, 1876 Airplanes are interesting toys but of no military value. -- French Marshall Ferdinand Foch, Professor of Strategy, Ecole Superieure de Guerre But what is it good for? -- IBM engineer commenting on the microchip in 1968 Drill for oil? You mean drill into the ground to try and find oil? You're crazy. -- drillers who Edwin Drake tried to recruit for the first oil well in 1859 Heavier than air flying machines are impossible. -- Lord Kelvin, Royal Society, 1895 I think there is a world market for maybe five computers. -- Thomas Watson, Chairman of IBM, 1943 Louis Pasteur's theory of germs is ridiculous fiction. -- Pierre Pachet, Professor of Physiology at Toulouse University, 1872 The atomic bomb will never go off, and I speak as an expert in explosives. -- Admiral William Leahy to President Truman, 1945
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