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.
GEORGE SOROSIn politics, manipulating reality can take presidence over finding reality.
More George Soros Quotes
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The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don’t have much personal use for money.
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Once a trend is established it tends to persist and to run it’s full course.
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Political debate is more interested in manipulating the truth, than finding the truth.
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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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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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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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When money is free, the rational lender will keep on lending until there is no one else to lend to.
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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 worse a situation becomes the less it takes to turn it around, the bigger the upside.
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Discount the obvious, bet on the unexpected.
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Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
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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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It is credit that matters, not money (in other words, monetarism is a false ideology).
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There is always a divergence between our perception and what actually exists.
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Revolutions usually start with enthusiasm and end in tears.
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Unfortunately, the more complex the system, the greater the room for error.
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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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Studying economics is not a good preparation for dealing with it.
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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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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.
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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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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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My approach works not by making valid predictions but by allowing me to correct false ones.
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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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To be successful, you need leisure. You need time hanging heavily on your hands.
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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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