66 books
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16 voters
The market can and will at times be completely deranged and irrational in the short term, but over the long term it will price securities in line with their underlying intrinsic values.


“While people in today’s affluent societies work an average of forty to forty-five hours a week, and people in the developing world work sixty and even eighty hours a week, hunter-gatherers living today in the most inhospitable of habitats – such as the Kalahari Desert – work on average for just thirty-five to forty-five hours a week.”
― Sapiens: A Brief History of Humankind
― Sapiens: A Brief History of Humankind

“Sapiens did not forage only for food and materials. They foraged for knowledge as well.”
― Sapiens: A Brief History of Humankind
― Sapiens: A Brief History of Humankind

“Even today, with all our advanced technologies, more than 90 per cent of the calories that feed humanity come from the handful of plants that our ancestors domesticated between 9500 and 3500 BC – wheat, rice, maize (called ‘corn’ in the US), potatoes, millet and barley.”
― Sapiens: A Brief History of Humankind
― Sapiens: A Brief History of Humankind

“Evidence from fossilised skeletons indicates that ancient foragers were less likely to suffer from starvation or malnutrition, and were generally taller and healthier than their peasant descendants.”
― Sapiens: A Brief History of Humankind
― Sapiens: A Brief History of Humankind

“If a forager band split once every forty years and its splinter group migrated to a new territory sixty miles to the east, the distance from East Africa to China would have been covered in about 10,000 years.”
― Sapiens: A Brief History of Humankind
― Sapiens: A Brief History of Humankind

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