You know what happiness is: 'Having a little more money than your colleagues.' And that's not so tough in academic life.

Two factors explain our success. One, MIT's renaissance after World War II as a federally supported research resource. Two, the mathematical revolution in macro- and micro-economic theory and statistics. This was overdue and inevitable, MIT was the logical place for it to flourish.

Investing is like waiting for paint dry and grass grow so. If you like fun, let handle 800 USD and headed to Las Vegas

We are like highly trained athletes, who never run a race.

Economists are said to disagree too much but in ways that are too much alike: If eight sleep in the same bed, you can be sure that, like Eskimos, when they turn over, they'll all turn over together.

It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office.

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."