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

It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.

Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.

If I say something which you understand fully in this regard, I probably made a mistake.