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There is no point in being confident and having a small position.

George Soros

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

Deal Economics Goodness Preparation Study
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.
GEORGE SOROS

Difference Future Investment Profit Success Yourself
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.
GEORGE SOROS

Concept Criticism Frame Important Mistake Myself Wrong
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.
GEORGE SOROS

Myself Operation Practice Skills Survive Training Word
Unfortunately, the more complex the system, the greater the room for error.
GEORGE SOROS

Complex Errors Fortunate Mistake Room System
It is sort of a disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.
GEORGE SOROS

Beginning Comfortable Creation God Kind Live Myself Sick
I chose America as my home because I value freedom and democracy, civil liberties and an open society.
GEORGE SOROS

Freedom Home Myself Open Society Value
My sense of insecurity keeps me alert, always ready to correct my errors.
GEORGE SOROS

Correction Errors Insecurity Myself
Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
GEORGE SOROS

Investment Practice Science Submit
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.
GEORGE SOROS

Condition Development Gold Interest Rate Ultimate
My main concern is with the world order.
GEORGE SOROS

One Liner Order World
Well, you know, I was a human being before I became a businessman.
GEORGE SOROS

Business Career Human Man Myself Transformation
If we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one’s conceptions and what one does about them. Life can be seen as a fertile fallacy.
GEORGE SOROS

Carry Flaw Life Logic Meaning Oneself See
The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
GEORGE SOROS

Believe Enemy Myself Open Society Threat
Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
GEORGE SOROS

Concept Growth Market Reality Stock
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.
GEORGE SOROS

Attention Feature Influence Market Moral Oneself Participant Pay Positive Price

There is no point in being confident and having a small position.

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There is no point in being confident and having a small position.

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