Sublime

This paradox of comprehension was articulated explicitly by a great physicist of an earlier age: “Sir Isaac Newton, when asked what he thought of the infatuations of the people, answered that he could calculate the motions of erratic bodies, but not the madness of a multitude” (quoted from The Church of England Quarterly Review, 1850).

Money emerges from uncertainty, capital emerges from money, and uncertainty emerges from capital.

Blockchains are multiplayer.

Andrew Clay Shafer says, “You are either a learning organization or you are losing to one that is.”

Second, those who hold return-seeking capital assets but who do not lever up are comparatively disadvantaged if their competitors do.