Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPANI am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
More Alan Greenspan Quotes
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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If I seem unduly clear to you, you must have misunderstood what I said.
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If I’ve made myself clear, I’ve misspoken.
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Amateurs want to be right. Professionals want to make money.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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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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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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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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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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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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Even 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.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
ALAN GREENSPAN