I chose to start Schwarzman Scholars because I saw the potential for the world to become focused and unhappy with China, in large part because of the populism that was growing throughout the world.

Inaccurate analysis produces faulty insights and bad decisions - which lead to losing a tremendous amount of money.

The concept of fair value accounting is correct and useful, but the application during periods of crisis is problematic. It's another one of those unintended consequences of making a rule that's supposed to be good that turns out the other way.

Part of China's strategic planning is to make their universities among the top level of the world, and I think they understand you can't do that without the adoption of some of the principles of the great universities in the West; one of those is the ability to have free expression and discussion in the classroom.