Second, they [those who disagree with market efficiency] always claim they know a man, a bank, or a fund that does do better. Alas, anecdotes are not science. And once Wharton School dissertations seek to quantify the performers, these have a tendency to evaporate into the air - or, at least, into statistically insignificant t-statistics.
Paul SamuelsonAsia's governments come in two broad varieties: young, fragile democracies - and older, fragile authoritarian regimes.
Paul SamuelsonInvesting is like waiting for paint dry and grass grow so. If you like fun, let handle 800 USD and headed to Las Vegas
Paul SamuelsonAnyone with special abilities earns a differential return on that flair, which we economists call a rent. Those few with extraordinary P.Q. (Performance Quotient) will not give away such rent to the Ford Foundation or the local bank trust department. They have too high an I.Q. for that.
Paul Samuelson