No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That’s one of the positive features of markets. That’s why they function.
GEORGE SOROSMisconceptions play a prominent role in my view of the world.
More George Soros Quotes
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To be successful, you need leisure. You need time hanging heavily on your hands.
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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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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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Revolutions usually start with enthusiasm and end in tears.
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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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Studying economics is not a good preparation for dealing with it.
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Once a trend is established it tends to persist and to run it’s full course.
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There is always a divergence between our perception and what actually exists.
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Political debate is more interested in manipulating the truth, than finding the truth.
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Find the trend whose premise is false, and bet against it.
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In politics, manipulating reality can take presidence over finding reality.
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The worse a situation becomes the less it takes to turn it around, the bigger the upside.
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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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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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Unfortunately, the more complex the system, the greater the room for error.
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