Market Prices Are Always Wrong.

Every Bubble Consists Of A Trend That Can Be Observed In The Real World And A Misconception Relating To That Trend. The Two Elements Interact With Each Other In A Reflexive Manner.

Misconceptions Play A Prominent Role In My View Of The World.

Money Values Do Not Simply Mirror The State Of Affairs In The Real World; Valuation Is A Positive Act That Makes An Impact On The Course Of Events. Monetary And Real Phenomena Are Connected In A Reflexive Fashion; That Is, They Influence Each Other Mutually. The Reflexive Relationship Manifests Itself Most Clearly In The Use And Abuse Of Credit.

These Public-private Partnerships Are Very, Very Dangerous. The Most Rotten Part Of The Financial System In The Us Consisted Of The Government Sponsored Entities, Fannie Mae And Freddie Mac. They Really Kicked Off This Crisis. The State Should Set The Rules And Enforce Them - But Not Become Involved As A Market Player.

When I Had Made More Money Than I Needed For Myself And My Family, I Set Up A Foundation To Promote The Values And Principles Of A Free And Open Society.