There is always a divergence between our perception and what actually exists.
GEORGE SOROSMarket prices are always wrong in the sense that they present a biased view of the future.
More George Soros Quotes
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Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
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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.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.
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In politics, manipulating reality can take presidence over finding reality.
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The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
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Short term volatility is greatest at turning points and diminishes as a trend becomes established.
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The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
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The worse a situation becomes the less it takes to turn it around, the bigger the upside.
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I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
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I rely a great deal on animal instincts.
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I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them.
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Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
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Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values.
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I’m only rich because I know when I’m wrong.
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No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That’s one of the positive features of markets. That’s why they function.
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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.
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The world order needs a major overhaul.
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Markets can influence the events that they anticipate.
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Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.
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I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
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I don’t panic. The same thing applies to me as to everybody else, so I’m given to euphoria and despair. And I would say that I basically have survived by recognizing my mistakes.
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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
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When money is free, the rational lender will keep on lending until there is no one else to lend to.
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My main concern is with the world order.
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The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
GEORGE SOROS