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Key Pittman, chairman of the Senate Foreign Relations Committee, proposed that the British give up their home islands and retreat to Canada; that, he thought, would satisfy Hitler. Pittman was even agreeable to letting the Nazis control the Atlantic. Senator Ernest Lundeen of Minnesota recommended American seizure of all British and French possessions in the western hemisphere.
The Glory and the Dream
William Manchester
basic checklist introduced earlier in this chapter: 1. Does the stock have a high earnings yield—that is, a low P/E? 2. Does the company do something unique that will allow it to earn super-profits on its growth opportunities? Does it have a moat? 3. Is the company built to last, or is it at risk from competition, fads, obsolescence, or excessive debt? 4. Are the company’s finances stable and predictable into the extended future, or are they cyclical, volatile, and uncertain? This checklist does not catch every undervalued stock, but it does cull out the most common sources of disappointment. It does not guarantee that bad things can’t happen, but it does improve your odds. When I can fill my portfolio with stocks with all four qualities, I see no need to consider those with defects. Most stocks will fail this screen, but that does not mean they are not undervalued.
Big Money Thinks Small
Joel Tillinghast
One thing that stability training has taught me is that most “acute” injuries, such as a torn ACL or a hamstring tear, are rarely sudden. While their onset may be rapid—instantaneous back or neck or knee pain—there was likely a chronic weakness or lack of stability at the foundation of the joint that was the true culprit. This is the real iceberg in the water. The “acute” injury is just the part you see, the manifestation of the underlying weakness. So if we are to complete the goals we have set in our own Centenarian Decathlon, we need to be able to anticipate and avoid any potential injuries that lie in our path, like icebergs at sea. This means understanding stability and incorporating it into our routine. Stability is tricky to define precisely, but we intuitively know what it is. A technical definition might be: stability is the subconscious ability to harness, decelerate, or stop force. A stable person can react to internal or external stimuli to adjust position and muscular tension appropriately without a tremendous amount of conscious thought.
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