The main obstacle to a stable and just world order is the United States.
GEORGE SOROSThe world order needs a major overhaul.
More George Soros Quotes
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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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Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
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To be successful, you need leisure. You need time hanging heavily on your hands.
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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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What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.
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The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
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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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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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I’m only rich because I know when I’m wrong.
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Studying economics is not a good preparation for dealing with it.
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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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There is always a divergence between our perception and what actually exists.
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The hardest thing to judge is what level of risk is safe.
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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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Increase your bets when you are confident and scale down your positions when you don’t have conviction.
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