When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.

President George W. Bush is endangering the United States and the world's safety while undermining American values.

There is no doubt that the countries that now have a very large debt have not introduced the kind of structural reforms that Germany did and are therefore at a disadvantage. But the problem is that this disadvantage is becoming even more pronounced through the punitive policies in place.

If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.

Revolutions usually start with enthusiasm and end in tears.

I'm only rich because I know when I'm wrong.

Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.