I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
GEORGE SOROSHedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.
More George Soros Quotes
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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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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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Discount the obvious, bet on the unexpected.
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It is credit that matters, not money (in other words, monetarism is a false ideology).
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Once a trend is established it tends to persist and to run it’s full course.
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To be successful, you need leisure. You need time hanging heavily on your hands.
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If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.
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The global crisis is caused by pathologies inherent in the global financial system itself.
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Find the trend whose premise is false, and bet against it.
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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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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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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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Unfortunately, the more complex the system, the greater the room for error.
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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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