The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
ALAN GREENSPANThere are no easy choices. Easy choices are long gone.
More Alan Greenspan Quotes
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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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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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Greenspan, who knew so much more than most, knew far less than most supposed.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Derivatives have permitted the unbundling of financial risks.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
ALAN GREENSPAN






