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 SOROSTo 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.
More George Soros Quotes
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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.
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Every bubble has two components: something – some real trend, and a misconception about that trend.
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To be successful, you need leisure. You need time hanging heavily on your hands.
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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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The financial markets play an active role in determining what’s going to happen, how the economy is going to function.
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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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There is always a divergence between our perception and what actually exists.
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Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
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Once a trend is established it tends to persist and to run it’s full course.
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The hardest thing to judge is what level of risk is safe.
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The world order needs a major overhaul.
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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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If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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My main concern is with the world order.
GEORGE SOROS