I'm not doing my philanthropic work out of any kind of guilt, or any need to create good public relations. I'm doing it because I can afford to do it, and I believe in it.

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.

It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong

A full and fair discussion is essential to democracy.

I would be lying, however, if I claimed that I could always formulate worthwhile hypotheses on the basis of my theoretical framework. Sometimes there were no reflexive processes to be found; sometimes I failed to find them; and, what was the most painful of all, sometimes I got them wrong. One way or another, I often invested without a worthwhile hypothesis and my activities were not very different from a random walk.

The dark comes before dawn. The financial markets are under great pressure because of the lack of leadership during the transition period.

There is a well-established conviction that the central banks always do what is necessary to keep the system going and then afterwards you then take care of the legal aspects. In a crisis, you simply do not have time to think about such concerns for too long.