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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.

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Coin Consecutive Head Investor Million Percent Pick Probably Stock Ten Tosser

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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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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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The process of innovation is, of course, never ending.
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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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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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Significantly opening up immigration to skilled workers solves two problems.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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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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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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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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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Alternative Currency Issue Law Legal Long Tender

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