“There's a tremendous popular fallacy which holds that significant research can be carried out by trying things. Actually it is easy to show that in general no significant problem can be solved empirically, except for accidents so rare as to be statistically unimportant. One of my jests is to say that we work empirically -- we use bull's eye empiricism. We try everything, but we try the right thing first!” TryingFirstsUseShowsProblemEyeEasyResearchAccidentsSignificantRight ThingBullsUnimportantFallacyEmpiricism Author:Edwin Land
“Significant changes in the growth rate of money supply, even small ones, impact the financial markets first. Then, they impact changes in the real economy, usually in six to nine months, but in a range of three to 18 months. Usually in about two years in the US, they correlate with changes in the rate of inflation or deflation." "The leads are long and variable, though the more inflation a society has experienced, history shows, the shorter the time lead will be between a change in money supply growth and the subsequent change in inflation.” YearsFirstsLongTwoRealShowsThreeGrowthEconomyMonthsSixImpactRateInvestingFinancialSignificantNineRangeTwo YearsInflationVariablesNine MonthsFinancial MarketsSignificant ChangeDeflation Author:Milton Friedman
“It took a lot of courage to take the high road, but I would rather be significant with six million people watching a show with meaning, than everyone watching a show with no meaning.” PeopleShowsMillionsSixSignificantHigh RoadTaking The High Road Author:Oprah Winfrey