The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).

Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.

The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don't have much personal use for money.

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).

No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That's one of the positive features of markets. That's why they function.

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