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

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.

As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

In 2012, the far-right Golden Dawn won 21 seats in Greece's parliamentary election, the right-wing Jobbik gained ground in my native Hungary, and the National Front's Marine Le Pen received strong backing in France's presidential election. Growing support for similar forces across Europe points to an inescapable conclusion: the continent's prolonged financial crisis is creating a crisis of values that is now threatening the European Union itself.

If we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one's conceptions and what one does about them. Life can be seen as a fertile fallacy.

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.

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