George Will
George Will
George Frederick Willis an American newspaper columnist and political commentator. He is a Pulitzer Prize–winner known for his conservative commentary on politics. In 1986, The Wall Street Journal called him "perhaps the most powerful journalist in America," in a league with Walter Lippmann...
ProfessionJournalist
Date of Birth4 May 1941
risk investing portfolios
When you sell options, you get paid for assuming risk. That can be a profitable business, but it does not mix well with the risks inherent in a leveraged portfolio.
long needs something-better
Investors operate with limited funds and intelligence, they do not need to know everything. As long as they understand something better than others, they have an edge...
years risk management
Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.
regulation investing minimum
I am for maximum supervision and minimum regulation.
success people acting
When it comes to social consequences, they've got all different people acting in different ways, very difficult to even have a proper criterion of success. So, it's a difficult task.
views people divergent
An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth.
perfection doe libertarian
The laissez-faire argument relies on the same tacit appeal to perfection as does communism.
successful thinking government
I am against market fundamentalism. I think this propaganda that government involvement is always bad has been very successful - but also very harmful to our society.
rights friendly auctions
The US needs a cap and trade system with auctioning of licenses for emissions rights. The revenues from these auctions can be used to launch a new, environmentally friendly energy policy. That would be yet another federal program that could help us to overcome the stagnation.
hero mean cat
It is better to have a cat and mouse game where the cat has the upper hand than a cat and mouse game where the mice are ruling. Because the latter means that the market participants are given free range. That was actually the big misconception of our national hero Ronald Reagan, who always talked about the magic of the market.
successful years broken
However, you have to recognize that regulations will never be completely successful and they will always be full of holes. You must constantly be ready to fill new holes. Actually regulation should be kept to a minimum, but there has to be some cooperation between market participants and authorities - as was the case in the early postwar years. The Bank of England was a very successful regulator by cooperating with market participants. This cooperative spirit was broken by the market fundamentalists.
government giving profound
Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. That is absurd.
issues faces sometimes
Sometimes time actually works against you if you refuse to face the relevant issues and explain to the public what is at stake.
forever ifs bubbles
If the bubbles contain a misconception, as they always do, then it can't be maintained forever.