It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
ALAN GREENSPANEven though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
More Alan Greenspan Quotes
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If I’ve made myself clear, I’ve misspoken.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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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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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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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I’m a better economist than I was a sax player.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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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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Indeed, better risk management may be the only truly necessary element of success in banking.
ALAN GREENSPAN