theramifications

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AI - Don’t mistake speed for strategy and automation for value.

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Tokenisation is aimed at creating a digitalised central bank system that settles payments and securities trades almost instantaneously and more cheaply by cutting the need for certain time consuming checks, as well opening up new functionality.

It can also make the system more transparent, resilient and interoperable and may protect the system from some of the more unpredictable elements of cryptocurrencies.

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Taco, or any market news wave, is just another psychological fix to bring back speculative courage.

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What offers immediate pleasure comes to seem like a distraction, an empty entertainment to help pass the time.

Real pleasure comes from overcoming challenges, feeling confidence in your abilities, gaining fluency in skills, and experiencing the power this brings.

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Size and Market domination can create their own type of durable competitive advantage.

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It is far better to keep things simple and improvise along the way.

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Carry trade bets on yield differentials.

Abitrage bets on price differentials.

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Leverage and speculation are vices.

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Never risk permanent loss of capital.

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Charlie never sought to take credit for his role as creator but instead let me take the bows and receive the accolades. In a way his relationship with me was part older brother, part loving father. Even when he knew he was right, he gave me the reins, and when I blundered he never - never -reminded me of my mistake.

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If you can't figure out who is the Patsy, you are the Patsy.

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The greatest aid to judgment is the obsession over inputs that beats chasing results.

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It is far easier to endure a brief moment of intense pain than it is to suffer a misery that drags on year after year.

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Quick nos are more valuable than long-drawn-out maybes.

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Ultimately, the denominator is time.

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Life is about showing up, bringing clarity, intent and energy to whatever the day brings.

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Such is the short-sightedness of one’s reckless agenda. In a short span! The one has ended the old certainties that underpinned the world economy, replacing them with extraordinary levels of volatility and confusion. Some of the chaos may have abated for now. But it will take a very long time to rebuild what has been lost.