We should not be focusing on quick solutions. The really important concern for policymakers everywhere is to prevent disasters - that is, the outlier events that matter the most.

One should have a wide variety of assets in one's portfolio. And oil, by the way, is a particularly important asset to have in one's portfolio because we need it, and the economy thrives on it.

We don't know the probabilities of future events. Still, you have to take action, and so you do it on gut feeling. That's the world we live in.

Somehow, talking to young students brings you back to reality - it should, anyway.

There's so much disagreement about investing, and it's because nobody really knows.

Money management has been a profession involving a lot of fakery - people saying they can beat the market, and they really can't.