I'm Only Rich Because I Know When

Every Bubble Has Two Components: Something - Some Real Trend, And A Misconception About That Trend.

Markets Are Designed To Allow Individuals To Look After Their Private Needs And To Pursue Profit. It's Really A Great Invention, And I Wouldn't Underestimate The Value Of That. But They're Not Designed To Take Care Of Social Needs.

The Laissez-faire Argument Relies On The Same Tacit Appeal To Perfection As Does Communism.

Playing By The Rules, One Does The Best He Can, Irrespective Of The Social Consequences. Whereas In Making The Rules, People Ought To Be Concerned With The Social Consequences And Not With Their Personal Interests.

As An Anonymous Participant In Financial Markets, I Never Had To Weigh The Social Consequences Of My Actions ... I Felt Justified In Ignoring Them On The Grounds That I Was Playing By The Rules.