The more data we have, the more likely we are to drown in it.

We should ban banks from risk-taking because society is going to pay the price.

A good rule of thumb is as follows: If the numbers come from somebody wearing a tie (Wall Street economist or analyst, industry public relations department, captive think tank academic and so on), you ought to be very skeptical. By design messages from these people are intended to move markets, move merchandise and/or move public policy and are not a comment on the state of the physical universe.

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.

The number of managers with great track records in a given market depends far more on the number of people who started in the investment business (in place of going to dental school), rather than on their ability to produce profits.

Half of the people lie with their lips; the other half with their tears

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.