To Others, Being Wrong Is

Unfortunately, The More Complex The System, The Greater The Room For Error.

When Money Is Free, The Rational Lender Will Keep On Lending Until There Is No One Else To Lend To.

It Is Better To Have A Cat And Mouse Game Where The Cat Has The Upper Hand Than A Cat And Mouse Game Where The Mice Are Ruling. Because The Latter Means That The Market Participants Are Given Free Range. That Was Actually The Big Misconception Of Our National Hero Ronald Reagan, Who Always Talked About The Magic Of The Market.

I Would Be Lying, However, If I Claimed That I Could Always Formulate Worthwhile Hypotheses On The Basis Of My Theoretical Framework. Sometimes There Were No Reflexive Processes To Be Found; Sometimes I Failed To Find Them; And, What Was The Most Painful Of All, Sometimes I Got Them Wrong. One Way Or Another, I Often Invested Without A Worthwhile Hypothesis And My Activities Were Not Very Different From A Random Walk.

If The Choice Is Between Cooking Alive And Wasting Money Unnecessarily I Would Rather Waste Some Money, Because Long Before We Cook We Are Going To Kill Each Other If We Don't Deal With Climate Change.