Studying economics is not a good preparation for dealing with it.
GEORGE SOROSIt is credit that matters, not money (in other words, monetarism is a false ideology).
More George Soros Quotes
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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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In politics, manipulating reality can take presidence over finding reality.
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There is always a divergence between our perception and what actually exists.
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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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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.
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American supremacy is the greatest threat to the world today.
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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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The scope for improvement is infinite, precisely because perfection is unattainable.
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Once a trend is established it tends to persist and to run it’s full course.
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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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If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
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Well, you know, I was a human being before I became a businessman.
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Markets can influence the events that they anticipate.
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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 world order needs a major overhaul.
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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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Revolutions usually start with enthusiasm and end in tears.
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My approach works not by making valid predictions but by allowing me to correct false ones.
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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.
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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.
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Misconceptions play a prominent role in my view of the world.
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Short term volatility is greatest at turning points and diminishes as a trend becomes established.
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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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I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
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The main obstacle to a stable and just world order is the United States.
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Every bubble has two components: something – some real trend, and a misconception about that trend.
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