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

George Soros

The worse a situation becomes the less it takes to turn it around, the bigger the upside.
GEORGE SOROS

Big Myself Situation Worst
America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
GEORGE SOROS

Introduction Policy Process
My main concern is with the world order.
GEORGE SOROS

One Liner Order World
The hardest thing to judge is what level of risk is safe.
GEORGE SOROS

Hard Judgement Level Life Risk
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
The scope for improvement is infinite, precisely because perfection is unattainable.
GEORGE SOROS

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

Country Resource Run Work
Studying economics is not a good preparation for dealing with it.
GEORGE SOROS

Deal Economics Goodness Preparation Study
The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
GEORGE SOROS

Marketing Reality Science
I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
GEORGE SOROS

Basic Mistake Recognition Rich Wrong
There is always a divergence between our perception and what actually exists.
GEORGE SOROS

Existence Ourselves Perception
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

Country Independent Lying Right Strength Talk Thinking
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.
GEORGE SOROS

Criticism Myself Qualification Reality Study Theory
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
I rely a great deal on animal instincts.
GEORGE SOROS

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

Freedom Money Oneself
To be successful, you need leisure. You need time hanging heavily on your hands.
GEORGE SOROS

Hands heavy Need Success Time Yourself
Misconceptions play a prominent role in my view of the world.
GEORGE SOROS

Concept Play Role View World
The sovereignty of states must be subordinated to international law and international institutions.
GEORGE SOROS

Institution International Law State
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.
GEORGE SOROS

Crowd Follow Lose Momentum Rise Time
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
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
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
Investors operate with limited funds and intelligence, they do not need to know everything. As long as they understand something better than others, they have an edge.
GEORGE SOROS

Better Intelligence Investment Limitation Understand
Political debate is more interested in manipulating the truth, than finding the truth.
GEORGE SOROS

Finding Interest Manipulation Politics Truth
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
Short term volatility is greatest at turning points and diminishes as a trend becomes established.
GEORGE SOROS

Diminish Establishment Greatness Short Time

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

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

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Popular Authors

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