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.
GEORGE SOROSNo 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.
More George Soros Quotes
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I’m only rich because I know when I’m wrong.
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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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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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I fancied myself as some kind of god or an economic reformer like Keynes.
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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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Political debate is more interested in manipulating the truth, than finding the truth.
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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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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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Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
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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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Short term volatility is greatest at turning points and diminishes as a trend becomes established.
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Studying economics is not a good preparation for dealing with it.
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The main obstacle to a stable and just world order is the United States.
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Well, you know, I was a human being before I became a businessman.
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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.
GEORGE SOROS