Nowhere does it say that investors should strive to make every last dollar of potential profit; consideration of risk must never take a backseat to return. Conservative positioning entering a crisis is crucial: it enables one to maintain long-term oriented,… — Seth Klarman Copy Share Image
A reactionary is fixed on the past and wanting to return to it; a conservative wishes to adapt what is best in the past to the changing circumstances of the present. — Roger Scruton Copy Share Image
