When you sell options, you get paid for assuming risk. That can be a profitable business, but it does not mix well with the risks inherent in a leveraged portfolio.

Money values do not simply mirror the state of affairs in the real world; valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion; that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit.

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 worse a situation becomes the less it takes to turn it around, the bigger the upside.

When you sell options, you get paid for assuming risk. That can be a profitable business, but it does not mix well with the risks inherent in a leveraged portfolio.

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.

Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.