When money is free, the rational lender will keep on lending until there is no one else to lend to.
GEORGE SOROSAs 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.
More George Soros Quotes
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I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
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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.
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The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
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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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The global crisis is caused by pathologies inherent in the global financial system itself.
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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.
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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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The main obstacle to a stable and just world order is the United States.
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I fancied myself as some kind of god or an economic reformer like Keynes.
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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.
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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.
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Markets can influence the events that they anticipate.
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I’m only rich because I know when I’m wrong.
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Revolutions usually start with enthusiasm and end in tears.
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The world order needs a major overhaul.
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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.
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It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.
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If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.
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Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
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Increase your bets when you are confident and scale down your positions when you don’t have conviction.
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I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
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My main concern is with the world order.
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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.
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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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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 rely a great deal on animal instincts.
GEORGE SOROS