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Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.

George Soros

When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.
GEORGE SOROS

Crowd Follow Lose Momentum Rise Time
In politics, manipulating reality can take presidence over finding reality.
GEORGE SOROS

Finding Manipulation Politics Reality
The sovereignty of states must be subordinated to international law and international institutions.
GEORGE SOROS

Institution International Law State
The financial markets play an active role in determining what’s going to happen, how the economy is going to function.
GEORGE SOROS

Determination Economics Function Marketing Role
Market prices are always wrong.
GEORGE SOROS

Market One Liner Price Wrong
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.
GEORGE SOROS

Concept Criticism Frame Important Mistake Myself Wrong
I don’t panic. The same thing applies to me as to everybody else, so I’m given to euphoria and despair. And I would say that I basically have survived by recognizing my mistakes.
GEORGE SOROS

Basic Despair Fear Mistake Myself Panic Recognition Survive
My sense of insecurity keeps me alert, always ready to correct my errors.
GEORGE SOROS

Correction Errors Insecurity Myself
The worse a situation becomes the less it takes to turn it around, the bigger the upside.
GEORGE SOROS

Big Myself Situation Worst
The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
GEORGE SOROS

Believe Enemy Myself Open Society Threat
I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
GEORGE SOROS

Better Mistake Move On Opportunity Quick Trade
Unfortunately, the more complex the system, the greater the room for error.
GEORGE SOROS

Complex Errors Fortunate Mistake Room System
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 SOROS

Better Intelligence Investment Limitation Understand
Revolutions usually start with enthusiasm and end in tears.
GEORGE SOROS

End Enthusiasm Revolution Start Tears
I fancied myself as some kind of god or an economic reformer like Keynes.
GEORGE SOROS

Economics Fancy God Kind
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 SOROS

Difference Future Investment Profit Success Yourself

Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.

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Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.

Related Topics

Popular Authors

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