I think those who invest in mutual funds want someone else to do the thinking for them. But the fact that they can move the money around the family of mutual funds just through a phone call lets them feel that they can play tycoons. ↗
There were two qualities about the mutual funds of the 1920s that made them extremely speculative. One was that they were heavily leveraged. Two, mutual funds were allowed to invest in other mutual funds. ↗
I think you'll do as well as most professionals. Most professionals don't beat the market. Let's not over-rate my industry. But if you have time, you can be in good mutual funds that have good records. ↗
When a population saves a lot, the funds are invested outside the country as well as inside. If the Japanese invest in the United States, it pushes their exchange rate down and makes their manufacturing more competitive. ↗
Given the best of all possible worlds, I would make a few changes. I would place emphasis on increasing the amount of funding that goes into programs like Pell Grants, that purely and simply award funds to students who really cannot afford full tuition. ↗
The thing that we at MIT must understand is the amount of real damage that is being done to us in the fine structure of how research funds are expended. ↗
A novelty in Polish filmmaking was that it was possible to find funds for a big production. However, at the same time, the state budget committed less and less money to filmmaking. ↗
