Studying economics is not a good preparation for dealing with it.

Every bubble has two components: something - some real trend, and a misconception about that trend.

Political debate is more interested in manipulating the truth, than finding the truth.

The main obstacle to a stable and just world order is the United States.

Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.

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.

If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.