No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.

The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

History has not dealt kindly with the aftermath of protracted periods of low risk premiums.

We will have more crises and none of them will look like this because no two crises have anything in common except human nature.

Regulation - which is based on force and fear - undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.

I'm always amazed that my wife can handle different subjects - one day politics, the next day foreign policy. And she always has so much fun doing it. We make a good team.

I'm not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.