The problem of knowledge is that there are many more books on birds written by ornithologists than books on birds written by birds and books on ornithologists written by birds

The government-sponsored institution Fannie Mae, when I look at its risks, seems to be sitting on a barrel of dynamite, vulnerable to the slightest hiccup. But not to worry: their large staff of scientists deemed these events "unlikely."

Weak men act to satisfy their needs, stronger men their duties.

I always remind myself that what one observes is at best a combination of variance and returns, not just returns.

Umberto Eco is the owner of a large personal library of almost 30,000 books that he has not read. [To him] read books are far less valuable than unread ones.

At no point in history have so many non-risk-takers, that is, those with no personal exposure, exerted so much control.

The traits I respect are erudition and the courage to stand up when half-men are afraid for their reputation. Any idiot can be intelligent.