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“Rather, risk is a perception in each investor's mind that results from analysis of the probability and amount of potential loss from an investment. If an exploratory oil well proves to be a dry hole, it is called risky. If a bond defaults or a stock plunges in price, they are called risky. But if the well is a gusher, the bond matures on schedule, and the stock rallies strongly, can we say they weren't risky when the investment after it is concluded than was known when it was made.”

“Some failure in life is inevitable. It is impossible to live without failing at something, unless you live so cautiously, that you might as well not have lived at all. In which case you have failed by default. Failure gave me an inner security that I had never obtained by passing examinations. Failure taught me things that I could not have learned any other way. I discovered I had a strong will and more discipline than I had suspected.”

“For my entire career, I wanted to be a director. When I was in the theater, it was very difficult to get directing jobs, and I fell into the acting by default. I got in the habit of accepting whatever came my way. Not things that I disagreed with, though. It's not like I had aspirations - well, I did have aspirations to play Hamlet, which I ended up doing.”

“An attitudinal sea change. I think that's the hardest one to fix. Presidential directives, bills, provisions can all be rescinded, repealed, amended, but attitudes linger. The hardest thing is going to be to try to reverse an attitude, a bunker mentality that equates secrecy with either security or heightened efficiency and that regards transparency as an invitation to mischief and trespass. This default position of operating in the shadows is going to be somewhat appealing to whomever inherits office.”

“As participants in a mobile culture, our default is to move. God embraces our broken world, and I have no doubt that God can use our movement for good. But I am convinced that we lose something essential to our existence as creatures if we do not recognize our fundamental need for stability. Trees can be transplanted, often with magnificent results. But their default is to stay.”

“We believe that 95% of your emotions are determined by the way you talk to yourself as you go throughout your day. The sad fact is that if you do not deliberately and consciously talk to yourself in a positive and constructive way, you will, by default, think about things that will make you unhappy or cause you worry and anxiety. Your mind is like a garden. If you do not deliberately plant flowers and tend carefully, weeds will grow without any encouragement at all.”

“Who would you trust right now? Which bank would you trust? Which investment would you trust? Do you really want to put your money; do you want to suffer more of these losses that we just had? You know, these volatility that we see is just unexplainable by any rational standards. Nobody has any clue about how to explain this, and nobody wants to experience that. So, we hold more money back, we don't necessarily want to invest in the market and by default, people are saving more.”

“After the risky mortgage-lending practices fostered by government intervention led to massive defaults and foreclosures that caused financial institutions to collapse or be bailed out, Congressman Frank changed his tune completely.”

“When Obama's economic advisers - a greater group of schlemiels would be hard to find - warn that failure to raise the limit will trigger default and horrific consequences for the global economy, Republicans should reply that if this is so, tell it to your president and get him to approve the spending cuts along with the debt-limit increase.”

“The money has to be deferred with what they call "clawback," which means they can get it back if I lose it all. So that guy making ten million a year selling credit default swaps, if we're going to keep five million of it in escrow for ten years, and with the right to go back and get it, if he starts losing money, then we're going to give people the right incentives not too take so much risk.”

“I started as a drummer, so I sort of took on singing duties by default. I had sung backgrounds and some lead vocals from behind the drums in different bands that I'd been in, and I'd gotten great responses for the songs I would sing. I really started pursuing the possibility of being a lead singer based on the fact that I was working a full-time restaurant job and then playing gigs at night, hauling drums around. One day, it just dawned on me that, 'Hey, I could be in a band and be the singer, and it would be a lot easier!'”

“The political disfunction that has brought about the shutdown and now threatens default, isn't so much gridlock. It is exposing the fatal flaw in our Constitution and highly distinct system of government. In other words, it's the Constitution's fault. Something truly catastrophic was bound to happen sooner or later.”

“How, then, has Obama been saddled with an image of being long on inspiration and short on details? The answer is that journalists are not accustomed to covering a candidate who moves crowds the way Obama does, who uses speech cadences and rhythm like Martin Luther King Jr. without making his talk explicitly about race. Sen. Clinton already owned the policy-wonk slot, so by default, Obama was cast as the poetic one.”

“I mean, we've always had gold bugs, but now we sort of realize that Treasure Bills might be in the same category. And we have derivatives like credit default swaps which are in this category, and we have derivatives like volatilities that are actually an asset class that we can invest in which are now - would out perform if we have another financial crisis.”