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07Undated
And then to my surprise in one of them I discovered the original manuscript of On Friendship. Puzzled, I unrolled it, thinking I must have brought it with me by mistake. But when I saw that Cicero had copied out at the top of the roll in his shaking hand a quotation from the text, on the importance of having friends, I realised it was a parting gift: If a man ascended into heaven and gazed upon the whole workings of the universe and the beauty of the stars, the marvellous sight would give him no joy if he had to keep it to himself. And yet, if only there had been someone to describe the spectacle to, it would have filled him with delight. Nature abhors solitude.
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17Undated
Right, you see that girl over there, the one in that group that keeps looking right at you?'...'Right, let's say I'm convinced she's wearing black knickers - she looks like a black knickers kind of gal to me - and I'm so sure that's what she's wearing, so positive of that sartorial fact, I want to bet a million dollars on it. The trouble is, if I'm wrong, I'm wiped out. So I also bet she's wearing knickers that aren't black, but are any one of a whole basket of colours - let's say I put nine hundred and fifty thousand dollars on that possibility: that's the rest of the market; that's the hedge. This is a crude example, okay, in every sense, but hear me out. Now if I'm right, I make fifty K, but even if I'm wrong I'm going to lose fifty K, because I'm hedged. And because ninety-five per cent of my million dollars is not in use - I'm never going to be called on to show it: the only risk is in the spread - I can make similar bets with other people. Or I can bet it on something else entirely. And the beauty of it is I don't have to be right all the time - if I can just get the colour of her underwear right fifty-five per cent of the time I'm going to wind up very rich...
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