“Unfortunately, the more complex the system, the greater the room for error.”

Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.

The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.

Political debate is more interested in manipulating the truth, than finding the truth.

Short term volatility is greatest at turning points and diminishes as a trend becomes established.

An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.

The main obstacle to a stable and just world order is the United States.

Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.

Increase your bets when you are confident and scale down your positions when you don’t have conviction.

If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.

Market prices are always wrong in the sense that they present a biased view of the future.

I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them.

Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.

My approach works not by making valid predictions but by allowing me to correct false ones.

The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.

Revolutions usually start with enthusiasm and end in tears.

Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.

Does anything show the complexity of the miraculous brain more than that weird curiosity, the sleep-protection dream?

What can seem like complex understanding is truly found in simplicity.

She was always falling in love with the complexities of the human heart.

Moral issues are always terribly complex for someone without principles.

You cannot communicate complicated information to large groups of people. As you increase the number of people, you have to decrease the complexity of the information.

Men will surrender to the spirit of the age. They will say that if they had lived in our day, faith would be simple and easy. But in their day, they will say, things are complex; the Church must be brought up to date and made meaningful to the day’s problems.

Free yourself from the complexities and drama of your life. Simplify. Look within. Within ourselves we all have the gifts and talents we need to fulfill the purpose we’ve been blessed with.

I don’t like credit cards. They make overspending very easy. They can make life a lot more complex and stressful.