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As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

George Soros

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.
GEORGE SOROS

Basic Despair Fear Mistake Myself Panic Recognition Survive
The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.
GEORGE SOROS

Financial Ideas Marketing Prediction
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.
GEORGE SOROS

Establish Fundamental Lying Price Reflection Seek Value
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.
GEORGE SOROS

Element Myself Reality Relate Trend World
Political debate is more interested in manipulating the truth, than finding the truth.
GEORGE SOROS

Finding Interest Manipulation Politics Truth
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
To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
GEORGE SOROS

Mistake Myself Pride Recognition Shame Wrong
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
Increase your bets when you are confident and scale down your positions when you don’t have conviction.
GEORGE SOROS

Confidence Position Scale Yourself
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
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
The financial markets play an active role in determining what’s going to happen, how the economy is going to function.
GEORGE SOROS

Determination Economics Function Marketing Role
Every bubble has two components: something – some real trend, and a misconception about that trend.
GEORGE SOROS

Component Concept Reality Trend
Studying economics is not a good preparation for dealing with it.
GEORGE SOROS

Deal Economics Goodness Preparation Study
An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.
GEORGE SOROS

Greatness Interest Member Open Possible Society
The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
GEORGE SOROS

Marketing Myself Opposite Right Wisdom

As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

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As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

Related Topics

Popular Authors

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