“My approach works not by making valid predictions but by allowing me to correct false ones.”

When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.

The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.

To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.

It is credit that matters, not money (in other words, monetarism is a false ideology).

As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.

American supremacy is the greatest threat to the world today.

The scope for improvement is infinite, precisely because perfection is unattainable.

When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.

I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.

What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.

The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.

The hardest thing to judge is what level of risk is safe.

If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.

If you correct your hidden deeds subsequently, Allaah will correct your outward deeds.

If you are insulted, if you are accused, if they gossip about you, don’t say anything bad. Don’t be the one who sees the shame, be the one who corrects it.

A believer to another believer is like two hands, one washes the other (correcting each other).

Four marks of true repentance are: acknowledgement of wrong, willingness to confess it, willingness to abandon it, and willingness to make restitution.

It is better to be wrong than correct with no desire to be.

One of the greatest struggles of becoming an adult is figuring out what you want to do and what makes you happy. The courageous thing is to stick with it and see it through and see if you were correct.

I would rather be wrong, by God, with Plato than be correct with those men.

All that is necessary to right action is right judgment, and to the best action the most correct judgment.