I think that my foundation uses the money better than the government does. In any event, I do pay taxes.

If truth be known, I carried some rather potent messianic fantasies with me from childhood which I felt I had to control, otherwise I might end up in the loony bin. But when I made my way in the world I wanted to indulge myself in my fantasies to the extent that I could afford.

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

Every bubble has two components: something - some real trend, and a misconception about that trend.

Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.

The hardest thing to judge is what level of risk is safe.

The lower interest rates fueled housing and consumption booms in countries such as Spain and Ireland. At the same time, Germany, struggling with the burdens of reunification, tightened its belt and became more competitive. All this led to a wide divergence in economic performance. Europe became divided into creditor and debtor countries.