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

He who has never sinned is less reliable than he who has only sinned once.

Hard work will get you a professorship or a BMW. You need both work and luck for a Booker, a Nobel or a private jet.

Most people are sceptical about the wrong things and gullible about the wrong things.

Switzerland is the perfect place where you have volatility at a municipal level that nothing up top - small units competing with each other.

It's not a good idea to take a forecast from someone wearing a tie. If possible, tease people who take themselves and their knowledge too seriously.

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