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The markets are efficient over time.

The market is incredibly inefficient and capable on rare occasions of being utterly dysfunctional. And people have a really hard time getting their brain around that fact. They want to believe that it's approximately efficient almost all the time, and it simply isn't true.

It is important to exhaust the potential of existing markets. But it is equally important to open up new markets.

You know what term you don't hear anymore? Arbitrage. The markets have gotten too efficient.

What's so seductive about the efficient markets hypothesis is that it applies nine years out of ten. A lot of the time it works. But when it stops working, you blow up.

Markets have built in inefficiencies, serious inefficiencies which are well known.

We don't want to abandon any of the market we have now. We just want to gain new market.

You can't change the market; the market just is.

My fundamental tenets are concerned with freedom of the individual; the market isn't perfect, but it's the best available way of allocating resources.

Markets are a good thing, and they are the best way of ensuring we have fairness.