Sometimes the early bird gets the worm, but sometimes the early bird gets frozen to death.

All models have faults - that doesnt mean you cant use them as tools for making decisions.

I was involved with Wells Fargo Bank as a consultant in the late 1960s and early 1970s, when I suggested to them that they develop a product that has become known as index funds.

If someone says to you, Go to an old-folks home, thats kind of ridiculous, because a lot of old people are doing terrific things for society.

Sometimes the early bird gets the worm, but sometimes the early bird gets frozen to death.

If we internationalize everything, we end up with rules that stifle freedom and innovation.

Innovation must lead infrastructure for a simple but compelling reason: Innovation produces new types of products and markets, and it is virtually impossible to know how to run those markets efficiently before they are created.