Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.
The markets don't like instability and they don't like uncertainty.
We are facing extreme volatility.
I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.
We believe that according the name 'investors' to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a 'romantic.'
I'll be blunt: Money's gotten buggy.
Fear, greed and hope have destroyed more portfolio value than any recession or depression we have ever been through.
We used to be lenders; now we're borrowers. We used to be sellers; now we're buyers. You can't win that way.
Stable markets, unstable world. Efficiency. Everybody hears about it. It's enough to make you want to be pro-inefficiency and pro-corruption.
