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The probability of ten consecutive heads is 0.1 percent thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
Alan Greenspan
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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
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More quotes by Alan Greenspan
People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward. The number of mistakes I have made are just awesome. There is no number large enough to account for that.
Alan Greenspan
I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
Alan Greenspan
Any informed borrower is simply less vulnerable to fraud and abuse.
Alan Greenspan
If you think you understand what I am saying you do not understand what I am saying.
Alan Greenspan
I have long argued that paying down the national debt is beneficial for the economy: it keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
Alan Greenspan
Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
Alan Greenspan
In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
Alan Greenspan
Since I've become a central banker, I've learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said.
Alan Greenspan
The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions... Derivatives have permitted the unbundling of financial risks.
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Excessive optimism sows the seeds of its own reversal.
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The tub helps me relax, and it's a great place to read.
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I love facts and figures. It's like following a detective story, piecing together what's going on in the economy.
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If prices go down, we will have problems - problems in the sense of spillover to other areas.
Alan Greenspan
In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
Alan Greenspan
Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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Productivity is notoriously difficult to predict.
Alan Greenspan
While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
Alan Greenspan
The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
Alan Greenspan
Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking
Alan Greenspan
It's hard to overemphasize how important Ford's deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first. Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
Alan Greenspan
