I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
ALAN GREENSPANThe use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
More Alan Greenspan Quotes
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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If you think you understand what I am saying you do not understand what I am saying.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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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.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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Rules cannot take the place of character.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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The process of innovation is, of course, never ending.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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Gold still represents the ultimate form of payment in the world.
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And she always has so much fun doing it. We make a good team.
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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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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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Revolutions are something you see only in retrospect.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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If I’ve made myself clear, I’ve misspoken.
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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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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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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.
ALAN GREENSPAN