“Discount the obvious, bet on the unexpected.”

The financial markets play an active role in determining what’s going to happen, how the economy is going to function.

Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.

I rely a great deal on animal instincts.

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.

Well, you know, I was a human being before I became a businessman.

The sovereignty of states must be subordinated to international law and international institutions.

Find the trend whose premise is false, and bet against it.

My main concern is with the world order.

If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.

I chose America as my home because I value freedom and democracy, civil liberties and an open society.

When money is free, the rational lender will keep on lending until there is no one else to lend to.

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.

In politics, manipulating reality can take presidence over finding reality.

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.

Once a trend is established it tends to persist and to run it’s full course.

My sense of insecurity keeps me alert, always ready to correct my errors.

It’s easy to get rich by getting a state asset at a deep discount.

Don’t discount yourself, no matter what you’re doing. Everyone has a unique perspective that they can bring to the world.