But the trouble is that he [Alan Greenspan] had been an Ayn Rander. You can take the boy out of the cult but you can't take the cult out of the boy.
Paul SamuelsonFirst, those who disagree with market efficiency simply assert that it stands to common sense that greater effort to get facts and greater acumen in analyzing those facts will pay off in better performance somehow measured. (By this logic, cure for cancer must have been found by 1955).
Paul SamuelsonIn every mutual fund prospectus, in every sales promotional folder, and in every mutual fund advertisement (albeit in print almost too small to read), the following warning appears: "Past performance is no guarantee of future results."
Paul SamuelsonEconomists are said to disagree too much but in ways that are too much alike: If eight sleep in the same bed, you can be sure that, like Eskimos, when they turn over, they'll all turn over together.
Paul SamuelsonMacroeconomics, even with all of our computers and with all of our information - is not an exact science and is incapable of being an exact science.
Paul SamuelsonMea culpa, mea culpa. MIT and Wharton and University of Chicago created the financial engineering instruments, which, like Samson and Delilah, blinded every CEO. They didn't realize the kind of leverage they were doing and they didn't understand when they were really creating a real profit or a fictitious one.
Paul Samuelson