Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test. The main difference is that the hypothesis that underlies an investment decision is intended to make money and not to establish a universally valid generalization.

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

It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong

Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.

In politics, manipulating reality can take presidence over finding reality.

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.

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.