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.

There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.

If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.

The scope for improvement is infinite, precisely because perfection is unattainable.

Markets are imperfect. So you do need regulation, knowing that the regulators are also human.

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.

Democracy, by its very nature, can't be imposed on people. Democracy has to be the people deciding for themselves.