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.
ALAN GREENSPANSome succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
More Alan Greenspan Quotes
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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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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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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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 long argued that paying down the national debt is beneficial for the economy.
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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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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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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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Market financed withdrawals of home equity in recent years.
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Revolutions are something you see only in retrospect.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
ALAN GREENSPAN