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As Burke said in describing his early years in Albany, “Murphy delegates to the point of anarchy.”7
William Thorndike • The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success

Rich Arnold
rich-arnold.com



As the example of the late Soviet Union illustrated so well, until a few years ago it was possible for states to exercise great power in the world even while wasting resources on a massive scale. When returns to violence are high and rising, magnitude means more than efficiency. Larger entities tend to prevail over smaller ones. Those governments t
... See moreJames Dale Davidson, Lord William Rees-Mogg • The Sovereign Individual: Mastering the Transition to the Information Age
Until 1998 BH run a levered operation by having more invested assets in the insurance operation than BH itself had in book value.