“I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them.”

The sovereignty of states must be subordinated to international law and international institutions.

Find the trend whose premise is false, and bet against it.

My main concern is with the world order.

If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.

I chose America as my home because I value freedom and democracy, civil liberties and an open society.

When money is free, the rational lender will keep on lending until there is no one else to lend to.

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.

In politics, manipulating reality can take presidence over finding reality.

Discount the obvious, bet on the unexpected.

There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.

Once a trend is established it tends to persist and to run it’s full course.

My sense of insecurity keeps me alert, always ready to correct my errors.

Misconceptions play a prominent role in my view of the world.

I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

Studying economics is not a good preparation for dealing with it.

When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.

I had already learned from more than a decade of political life that I was going to be criticized no matter what I did, so I might as well be criticized for something I wanted to do.

Their compliments should not define you and nor should their criticism break you.

I don’t really mind criticism in music or in shows and stuff like that at all. I mean, it doesn’t really worry me even if it’s like out of place. At least it’s relevant.

The ambitious are criticized by those that have given up.

Romanticism has never been properly judged. Who was there to judge it? The critics!

The moment you declare a set of ideas to be immune from criticism, satire, derision, or contempt, freedom of thought becomes impossible.

Don’t let people’s compliments go to your head and don’t let their criticisms go to your heart.

A good scientist values criticism almost higher than friendship: no, in science criticism is the height and measure of friendship.