Sunday, February 13, 2011

Maverick Capital's Lee Ainslie on Impact of Fund Size on Returns ~ market folly

http://www.marketfolly.com/2011/02/maverick-capitals-lee-ainslie-on-impact.html


"A bureaucrat is the most despicable of men, though he is needed as vultures are needed, but one hardly admires vultures whom bureaucrats so strangely resemble. I have yet to meet a bureaucrat who was not petty, dull, almost witless, crafty or stupid, an oppressor or a thief, a holder of little authority in which he delights, as a boy delights in possessing a vicious dog. Who can trust such creatures?"

--Cicero

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