“The worse a situation becomes the less it takes to turn it around, the bigger the upside.”

In politics, manipulating reality can take presidence over finding reality.

Discount the obvious, bet on the unexpected.

There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.

Once a trend is established it tends to persist and to run it’s full course.

My sense of insecurity keeps me alert, always ready to correct my errors.

Misconceptions play a prominent role in my view of the world.

I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

Studying economics is not a good preparation for dealing with it.

When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.

The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.

To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.

It is credit that matters, not money (in other words, monetarism is a false ideology).

As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.

When I get older, I don’t think I’ll like to have wrinkles, or a big jelly belly. I cannot have it.

But we will always support our girls in their choices and help them to dream big.

I want to win four or five championship rings. That’s how I dream. I dream big.

You can be too big for God to use, but you can never be too small for God to use.

I wasn’t really a big comic book guy, growing up. I watched cartoons, but the choices were a whole heck of a lot slimmer.

And we’re always talking to the directors about that. It’s a big challenge to find people that can do it.

But you need them to also have that sense of fun and that sense of movement and that ability to get the actors to really respond to the material in the way that you want them to. It’s a very big thing.

And we make quite a big thing about that. I won’t give too much away.