America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
GEORGE SOROSOnce we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
More George Soros Quotes
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Find the trend whose premise is false, and bet against it.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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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 strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
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The main obstacle to a stable and just world order is the United States. [This idea] happens to coincide with the prevailing opinion in the world. And I think that’s rather shocking for Americans to hear.
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I chose America as my home because I value freedom and democracy, civil liberties and an open society.
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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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It is sort of a disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.
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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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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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The hardest thing to judge is what level of risk is safe.
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To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
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Studying economics is not a good preparation for dealing with it.
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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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The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.
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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.
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Once a trend is established it tends to persist and to run it’s full course.
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Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.
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The financial markets play an active role in determining what’s going to happen, how the economy is going to function.
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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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The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
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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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An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.
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There is no point in being confident and having a small position.
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Misconceptions play a prominent role in my view of the world.
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The sovereignty of states must be subordinated to international law and international institutions.
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