I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
ALAN GREENSPANIt has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
More Alan Greenspan Quotes
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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Amateurs want to be right. Professionals want to make money.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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What an ideology is is a conceptual framework with the way people deal with reality.
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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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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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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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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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I’m a plain soap kind of guy.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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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.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPAN