My sense of insecurity keeps me alert, always ready to correct my errors.

We in the United States are very often - since we are a democracy and we have national interests, we've often made the mistake that a democracy has to adopt America's interests, and that is a contradiction because a democracy basically is people deciding what their interests are.

Taking this view, it is possible to see financial markets as a laboratory for testing hypotheses, albeit not strictly scientific ones. The truth is, successful investing is a kind of alchemy.

I rely a great deal on animal instincts.

Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.

Short term volatility is greatest at turning points and diminishes as a trend becomes established

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