If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.
Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
There is no point in being confident and having a small position.
The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
The continuing conflict between the US and China complicates matters, because we ought to work together on climate change and on developing a vaccine against Covid-19.
An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth.
The sovereignty of states must be subordinated to international law and international institutions.
I am particularly concerned about the survival of the EU because it is an incomplete union.
We will not go back to where we were when the pandemic started. That is pretty certain. But that is the only thing that is certain. Everything else is up for grabs. I do not think anybody knows how capitalism will evolve.
The pro-Israel lobby has been remarkably successful in suppressing criticism. Politicians challenge it at their peril because of the lobby’s ability to influence political contributions.
We are the most powerful nation on earth. No external power, no terrorist organization can defeat us. But we can defeat ourselves by getting caught in a quagmire.
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.