Two-thirds of a century after [The Road to Serfdom] got written, hindsight confirms how inaccurate its innuendo about the future turned out to be.

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

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

The failure of market catallactics in no way denies the following truth: given sufficient knowledge the optimal decisions can always be found by scanning over all the attainable states of the world and selecting the one which according to the postulated ethical welfare function is best. The solution 'exists'; the problem is how to 'find' it.

Funeral by funeral, theory advances.

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."

Politicians like to tell people what they want to hear - and what they want to hear is what won't happen.