“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.”

Well, you know, I was a human being before I became a businessman.

The sovereignty of states must be subordinated to international law and international institutions.

Find the trend whose premise is false, and bet against it.

My main concern is with the world order.

If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.

I chose America as my home because I value freedom and democracy, civil liberties and an open society.

When money is free, the rational lender will keep on lending until there is no one else to lend to.

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.

In politics, manipulating reality can take presidence over finding reality.

Discount the obvious, bet on the unexpected.

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.

Once a trend is established it tends to persist and to run it’s full course.

My sense of insecurity keeps me alert, always ready to correct my errors.

Misconceptions play a prominent role in my view of the world.

I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

Studying economics is not a good preparation for dealing with it.

A people averse to the institution of private property is without the first elements of freedom

The being is altered, the fortune is varied, only the elements remaining what they are in substance, that same principle persevering which was always the one material principle, which is the true substance of things, eternal, ingenerable and incorruptible.

But this mind isn’t somewhere outside the material body of the four elements. Without this mind we can’t move. The body has no awareness. Like a plant or a stone, the body has no nature. So how does it move? It’s the mind that moves.

The measures adopted to restore public order are: First of all, the elimination of the so-called subversive elements. … They were elements of disorder and subversion.

False principles, which correspond with the bad as well as with the just aspirations of mankind, are a normal and necessary element in the social life of nations.

If two irreconcilable elements are struggling with each other, the solution lies in force. There has never been any other solution in history, and there never will be.

If it is the dirty element that gives pleasure to the act of lust, then the dirtier it is, the more pleasurable it is bound to be.

However it may be confounded or covered up or counterfeited, this elemental capacity to fight against injustice remains the distinguishing characteristic of human beings.