When money is free, the rational lender will keep on lending until there is no one else to lend to.
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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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.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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Short term volatility is greatest at turning points and diminishes as a trend becomes established.
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The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
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The main obstacle to a stable and just world order is the United States.
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I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
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American supremacy is the greatest threat to the world today.
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The global crisis is caused by pathologies inherent in the global financial system itself.
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The hardest thing to judge is what level of risk is safe.
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Discount the obvious, bet on the unexpected.
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There is no point in being confident and having a small position.
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If we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one’s conceptions and what one does about them. Life can be seen as a fertile fallacy.
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If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
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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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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 SOROS