The generally accepted view is that markets are always right -- that is, market prices tend to discount future developments accurately even when it is unclear what those developments are. I start with the opposite view. I believe the market prices are always wrong in the sense that they present a biased view of the future.

Investors operate with limited funds and intelligence, they do not need to know everything. As long as they understand something better than others, they have an edge.

The financial markets play an active role in determining what's going to happen, how the economy is going to function.

Mankind's ability to understand and control the forces of nature greatly exceeds our ability to govern ourselves

My main concern is with the world order

I am for maximum supervision and minimum regulation.

Democracy, by its very nature, can't be imposed on people. Democracy has to be the people deciding for themselves.