I very often used to get backaches due to the fact that I was wrong. Whenever you are wrong you have to fight or [take] flight. When [I] make the decision, the backache goes away.

Everything adds up to a major crisis. Humanity is faced with a global energy crisis ... The core of the crisis lies in the increasing shortage of oil.

I have made it a principle to give advice that does not serve my personal interest but rather the common interests.

The ultimate asset bubble is gold.

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

I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them.

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