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 SOROSMarkets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
More George Soros Quotes
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Studying economics is not a good preparation for dealing with it.
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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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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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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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To be successful, you need leisure. You need time hanging heavily on your hands.
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Unfortunately, the more complex the system, the greater the room for error.
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Market prices are always wrong in the sense that they present a biased view of the future.
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My approach works not by making valid predictions but by allowing me to correct false ones.
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Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
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America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
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I chose America as my home because I value freedom and democracy, civil liberties and an open society.
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Misconceptions play a prominent role in my view of the world.
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What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.
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Revolutions usually start with enthusiasm and end in tears.
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Market prices are always wrong.
GEORGE SOROS