I had always been interested in markets - specifically, the theory that in financial markets, goods will trade at a fair value only when everyone has access to the same information.
Alas, in 1929 came the Stock Market crash and everything changed and became worrisome. People started practicing conservatism because of financial losses, myself included.
It should strengthen investors' confidence. This is done through transparency, high quality financial reports, and a standardized economic market. This is not just for China, but also for the world market as a whole.
While expanding market access for American industry, financial markets and farmers is critical, I believe it needs to be done responsibly, accounting for the treatment and protection of workers and the environment.
We have this culture of financialization. People think they need to make money with their savings rather with their own business. So you end up with dentists who are more traders than dentists. A dentist should drill teeth and use whatever he does in...
The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.
I put forward a pretty general theory that financial markets are intrinsically unstable. That we really have a false picture when we think about markets tending towards equilibrium.
I would ask: Given the nature of free-market capitalism - where the rule is to rise to the top at all costs - is it possible to have a financial industry hero? And by the way, this is not a pop-culture trend we're talking about. There aren't many fin...
The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the ye...
Think how weird profit margins are: We've got high unemployment and financial crises - and world record profit margins. People think the American market is very cheap. We don't. The market quite incorrectly gives full credit to today's earnings.
It's one of the fundamental principles of the stock market: When interest rates go up, stocks go down. And along with financial companies and cyclicals, technology companies - with their sky-high price-to-earnings multiples - should be among the bigg...
There is much more good gained from having a fully functioning financial market than there ever is not having that.
A second reason why science cannot replace judgement is the behavior of financial markets.
I don't want to drive the markets crazy. I don't want to create trouble, but rather order and rules and norms. We have to struggle against financial excesses, those who speculate with sovereign debt, those who develop financial products which have do...
Trillions of dollars every day are being exchanged around the world in all of the financial markets.
And finally, no matter how good the science gets, there are problems that inevitably depend on judgement, on art, on a feel for financial markets.
The crisis in Europe has affected the U.S. economy by acting as a drag on our exports, weighing on business and consumer confidence, and pressuring U.S. financial markets and institutions.
One of the most constant aspects of American life is change - and nowhere is it more evident than in our financial markets.
If the EU and the US can cooperate successfully on regulating financial markets, everyone else will follow.
I would say that financial markets are very inefficient, and capable of extremes of being completely dysfunctional.
Selling drug secrets violates a trust that is fundamental to the integrity of both scientific research and our financial markets.
