“Smile, breathe and go slowly.” -Zen

Consistency is the last refuge of the unimaginative. - Oscar Wilde

The intellectual effort in writing a medium sized program is probably comparable to writing a book, except you never need to debug a book! There is a joy to finding out new ways to make something happen, or solving a particularly thorny problem. - David Bolton

The Fringe Benefits of Failure, and the Importance of Imagination President Faust, members of the Harvard Corporation and the Board of Overseers, members of the faculty, proud parents, and, above all, graduates. The first thing I would like to say is ‘thank you.’ Not only has Harvard given me an extraordinary honour, but the weeks of fear and nausea I’ve experienced at the thought of giving this commencement address have made me lose weight.

The highlight of the book is the following statement : Any model should consider the following : Transaction Costs, Risk, Return, Market Efficiency and the objective of a investment strategy should be minimize first two, maximize third and work around the fourth. Liquidity and Taxes are the additional elements to make any model realistic. Coming back to what the book is all about, It is about Alpha, a term used to represent , excess of benchmark returns generated by a fund manager.