Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.
Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support.
Economics is not an exact science. It's a combination of an art and elements of science. And that's almost the first and last lesson to be learned about economics: that in my judgment, we are not converging toward exactitude, but we're improving our data bases and our ways of reasoning about them.
Economics is a choice between alternatives all the time. Those are the trade-offs.
What we know about the global financial crisis is that we don't know very much.
Every good cause is worth some inefficiency.
To a person of analytical ability, perceptive enough to realise that mathematical equipment was a powerful sword in economics, the world of economics was his or her oyster in 1935. The terrain was strewn with beautiful theorems begging to be picked up and arranged in unified order.
I decided that there was only one place to make money in the mutual fund business, as there is only one place for a temperate man to be in a saloon: behind the bar and not in front of it.
Investing should be dull. It shouldn't be exciting.
Milton Friedman. Friedman had a solid MV = PQ doctrine from which he deviated very little all his life. By the way, he's about as smart a guy as you'll meet. He's as persuasive as you hope not to meet.
My belief is that nothing that can be expressed by mathematics cannot be expressed by careful use of literary words.
I can't think of a president who has been overburdened by a knowledge of economics.
It is not easy to get rich in Las Vegas, at Churchill Downs, or at the local Merrill Lynch office.