Andrew Lo Quotes

• Economists suffer from a deep psychological disorder that I call 'physics envy'. We wish that 99 percent of economic behavior could be captured by three simple laws of nature. In fact, economists have 99 laws that capture 3 percent of behavior. Economics is a uniquely human endeavor.

  Andrew Lo

  Simple, Psychological Disorders, Law

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• Financial crises are an unfortunate but necessary consequence of modern capitalism.

  Andrew Lo

  Financial, Modern, Crisis

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• The risks facing hedge funds are non-linear and more complex than those facing traditional asset classessuch risks are currently not widely appreciated or well-understood

  Andrew Lo

  Risk, Appreciated, Linear

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• The United States has the most sophisticated financial markets in the world, which does not leave much room to maneuver. But it also offers investors the greatest access to information and the ability to execute trades quickly and efficiently. So it is a mixed bag of opportunity.

  Andrew Lo

  Opportunity, United States, Doe

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• Many of us like to think of financial economics as a science, but complex events like the financial crisis suggest that this conceit may be more wishful thinking than reality.

  Andrew Lo

  Reality, Thinking, Events

  "ANDREW LO: I Read 21 Books About The Financial Crisis And They Explained Nothing" by Rob Wile, www.businessinsider.com. February 6, 2012.

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• Great investors need to have the right combination of intuition, business sense and investment talent.

  Andrew Lo

  Money, Intuition, Needs

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• Maybe we should teach schoolchildren probability theory and investment risk management.

  Andrew Lo

  Probability Theory, Risk, Management

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• Labor is getting more expensive and technology is getting cheaper.

  Andrew Lo

  Technology, Labor, Cheaper

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• While neurological studies have tried to identify components responsible for fear and greed, the impact on finance is less clear.

  Andrew Lo

  Impact, Greed, Study

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• My mother died of lung cancer last year. I felt helpless. As an economist, I thought, What can I do?

  Andrew Lo

  Mother, Cancer, Years

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