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.
GEORGE SOROSIt 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.
More George Soros Quotes
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Well, you know, I was a human being before I became a businessman.
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Unfortunately, the more complex the system, the greater the room for error.
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Discount the obvious, bet on the unexpected.
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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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When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
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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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In politics, manipulating reality can take presidence over finding reality.
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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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I rely a great deal on animal instincts.
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I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them.
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I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
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Every bubble has two components: something – some real trend, and a misconception about that trend.
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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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To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.
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Markets can influence the events that they anticipate.
GEORGE SOROS