Experience is devoid of the cherry-picking that we find in studies.

If you let markets - in general, my belief is that if you let markets give you information, they'll give you the information rather than artificially prop up everything.

The imagination of the genius vastly surpasses his intellect; the intellect of the academic vastly surpasses his imagination

We cannot truly plan, because we do not understand the future-but this is not necessarily a bad news. We could plan while bearing in mind such limitations. It just takes guts.

People who forecast simply because "that's my job," knowing pretty well that their forecast is ineffectual, are not what I would call ethical. What they do is no different from repeating lies simply because "it's my job."

It is a sign of weakness to avoid showing signs of weakness.

If you're going to fail, you'd rather fail early than fail late in general.