By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.

Indeed, better risk management may be the only truly necessary element of success in banking.

There is no evidence that the business cycle has been repealed.

If you think you understand what I am saying you do not understand what I am saying.

I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.

Before I met Ayn Rand, I was a logical positivist, and accordingly, I didn't believe in absolutes, moral or otherwise. If I couldn't prove a proposition with facts and figures, it was without merit.

By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.