‘Focus on what’s in front of you, not the rearview mirror.’

‘EMH/CAPM is no path to Mastery’.

‘Positive for the world ≠ Positive P&L.’

‘New eras are often a mirage.’

‘Don’t confuse skill with luck.’

‘Investment committees have a poor track record of success.’

‘VAR = a false sense of security.’

‘Bull Markets & Bubbles continue - until they don’t.’

‘Projects are time/cost asymmetrical.’

‘Be Mindful of Macro.’