What a strange letter. It is very rambling and obscure (especially for someone without fairly sophisticated understanding of macro-economic concepts), and then around page 11 gets rather self-reflective in an almost melancholic way. But this quote struck me as notable:<p><i>"Rightly or wrongly, the highest return on any intellectual endeavor is the management of other people's money." (page 11)</i><p>I would very much like to delve deeper into this statement, perhaps applying a very good Spinoza quote a bit later in the letter, "I have striven not to laugh at human actions, not to weep ate them, not to hate them, but to understand them".<p>Is the highest return on any intellectual endeavor the management of other people's money? If so, why?