Amateurs want to be right. Professionals want to make money.
ALAN GREENSPANSuch caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
More Alan Greenspan Quotes
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The 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…
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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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.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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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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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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When trust is lost, a nation’s ability to transact business is palpably undermined.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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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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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
ALAN GREENSPAN