The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.

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.

My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.

There is no point in being confident and having a small position.

American supremacy is the greatest threat to the world today.

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

To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.