Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
ALAN GREENSPANAlthough the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
More Alan Greenspan Quotes
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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The free lunch has still to be invented.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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All taxes are a drag on economic growth. It’s only a question of degree.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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Amateurs want to be right. Professionals want to make money.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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I have long argued that paying down the national debt is beneficial for the economy.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPAN