I rely a great deal on animal instincts.

The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.

Revolutions usually start with enthusiasm and end in tears.

My approach works not by making valid predictions but by allowing me to correct false ones.

The scope for improvement is infinite, precisely because perfection is unattainable.

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.

My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.