It was obvious that their profits were simply cash borrowed from destiny with some random payback time.

The track record of economists in predicting events is monstrously bad. It is beyond simplification; it is like medieval medicine.

As countries get rich they start increasing education and the very educated people tend to not like trial and error, because they think they're obligated to use the body of knowledge they have.

Never ask anyone for their opinion, forecast, or recommendation. Just ask them what they have—or don’t have—in their portfolio.

Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever.

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

Every social association that is not face-to-face is injurious to your health.