Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

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.

The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike.

An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.

It is much easier to put existing resources to better use, than to develop resources where they do not exist.

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

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.