I don't care very much for the People Magazine approach to applied economics.

Sooner or later the Internet will become profitable. It's an old story played before by canals, railroads and automobiles.

A growing nation is the greatest ponzi game ever contrived.

Profits are the lifeblood of the economic system, the magic elixir upon which progress and all good things depend ultimately. But one man's lifeblood is another man's cancer.

In every mutual fund prospectus, in every sales promotional folder, and in every mutual fund advertisement (albeit in print almost too small to read), the following warning appears: "Past performance is no guarantee of future results."

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.

The stock market has predicted nine of the last five recessions.