An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.
I don’t panic. The same thing applies to me as to everybody else, so I’m given to euphoria and despair. And I would say that I basically have survived by recognizing my mistakes.
The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.
The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don’t have much personal use for money.
Investors operate with limited funds and intelligence, they do not need to know everything. As long as they understand something better than others, they have an edge.
