Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.

President George W. Bush is endangering the United States and the world's safety while undermining American values.

A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.

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

You need a government that believes in government. It also believes in markets and wants to give markets the best, the greatest opportunity, but is trying to govern well.

Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited.

Increase your bets when you are confident and scale down your positions when you don't have conviction.