“The whole intellectual edifice, however, collapsed in the summer of last year because the data inputted into the risk management models generally covered only the past two decades, a period of euphoria. Had instead the models been fitted more appropriately to historic periods of stress, capital requirements would have been much higher and the financial world would be in far better shape today, in my judgment.” —Alan Greenspan Speaks on Financial Innovation.
“Persistence isn’t using the same tactics over and over. Persistence is having the same goal over and over.” —Seth Godin
hit + run
A lady just hit me on my ride to work at Folsom + 4th… just clipped my tire, watched me flip, and kept on driving. Sometimes I think we’re doomed as a race. My elbow really hurts right now.