Every side of a coin has another side..

If we internationalize everything, we end up with rules that stifle freedom and innovation..

All models have faults - that doesnt mean you cant use them as tools for making decisions..

Sometimes the early bird gets the worm, but sometimes the early bird gets frozen to death..

If someone says to you, Go to an old-folks home, thats kind of ridiculous, because a lot of old people are doing terrific things for society..

Innovation must lead infrastructure for a simple but compelling reason: Innovation produces new types of products and markets, and it is virtually im….

A bank needs models to measure risk. The problem, however, is that any one bank can measure its risk, but it also has to know what the risk taken by ….

I was involved with Wells Fargo Bank as a consultant in the late 1960s and early 1970s, when I suggested to them that they develop a product that has….

My career in academic research has not been involved with active management of securities. I've tried to understand risk-and-return relationships; al….

I'm a theorist, not an institutionalist..