Self-deception Ultimately Explains Japan's Plight.

There Is Something In People; You Might Even Call It A Little Bit Of A Gambling Instinct… I Tell People Investing Should Be Dull. It Shouldn't Be Exciting. Investing Should Be More Like Watching Paint Dry Or Watching Grass Grow. If You Want Excitement, Take $800 And Go To Las Vegas.

Our Ideal Society Finds It Essential To Put A Rent On Land As A Way Of Maximizing The Total Consumption Available To The Society. ...pure Land Rent Is In The Nature Of A 'surplus' Which Can Be Taxed Heavily Without Distorting Production Incentives Or Efficiency. A Land Value Tax Can Be Called 'the Useful Tax On Measured Land Surplus'.

This Message (that Attempting To Beat The Market Is Futile) Can Never Be Sold On Wall Street Because It Is In Effect Telling Stock Analysts To Drop Dead.

Suppose It Was Demonstrated That One Out Of Twenty Alcoholics Could Learn To Become A Moderate Social Drinker. The Experienced Clinician Would Answer, 'even If True, Act As If It Were False, For You Will Never Identify That One In Twenty, And In The Attempt Five In Twenty Will Be Ruined.' Investors Should Forsake The Search For Such Tiny Needles In Huge Haystacks.

You Know What Happiness Is: 'having A Little More Money Than Your Colleagues.' And That's Not So Tough In Academic Life.