Mankind's ability to understand and control the forces of nature greatly exceeds our ability to govern ourselves

Market prices are always wrong in the sense that they present a biased view of the future.

Misconceptions play a prominent role in my view of the world.

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.

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.

The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.

The people currently in charge have forgotten the first principle of an open society, namely that we may be wrong and that there has to be free discussion. That it's possible to be opposed to the policies without being unpatriotic.