The humbling machine

A quote often attributed to Isaac Newton says: “I can calculate the motion of the heavenly bodies, but not the madness of people.”
Newton invested early in the South Sea Company and made good money — then re-entered as speculation turned into mania and lost heavily.

It’s a useful reminder: markets are a humbling machine. Intelligence is not a hedge against emotions. The antidote is discipline — risk management, a long-term horizon, and staying firmly grounded when the crowd loses its head. Over time, compounding does the heavy lifting.