The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.

Proposition 19 already is a winner no matter what happens on election day. The mere fact of its being on the ballot has elevated and legitimized public discourse about marijuana and marijuana policy in ways I could not have imagined a year ago.

I call government that works the best for people open society, which is basically just another more general term for a democracy that is - you call it maybe a liberal democracy. It's not only majority rule but also respect for minorities and minority opinions and the rule of law. So it's really a sort of institutional democracy.

When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.

The generally accepted theory is that financial markets tend towards equilibrium, and...discount the future correctly. I operate using a different theory, according to which financial markets cannot possibly discount the future correctly because the do not merely discount the future; they help to shape it.

If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.