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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.

George Soros

The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
GEORGE SOROS

Marketing Myself Opposite Right Wisdom
I fancied myself as some kind of god or an economic reformer like Keynes.
GEORGE SOROS

Economics Fancy God Kind
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.
GEORGE SOROS

Criticism Myself Qualification Reality Study Theory
I don’t panic. The same thing applies to me as to everybody else, so I’m given to euphoria and despair. And I would say that I basically have survived by recognizing my mistakes.
GEORGE SOROS

Basic Despair Fear Mistake Myself Panic Recognition Survive
The hardest thing to judge is what level of risk is safe.
GEORGE SOROS

Hard Judgement Level Life Risk
Discount the obvious, bet on the unexpected.
GEORGE SOROS

Discount Expectation Inspirational Risk
Markets can influence the events that they anticipate.
GEORGE SOROS

Anticipate Event Influence Marketing
The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
GEORGE SOROS

Marketing Reality Science
Studying economics is not a good preparation for dealing with it.
GEORGE SOROS

Deal Economics Goodness Preparation Study
The global crisis is caused by pathologies inherent in the global financial system itself.
GEORGE SOROS

Financial Global Path System
The sovereignty of states must be subordinated to international law and international institutions.
GEORGE SOROS

Institution International Law State
Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
GEORGE SOROS

Government Misery Poverty Weakness World
When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.
GEORGE SOROS

Crowd Follow Lose Momentum Rise Time
Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
GEORGE SOROS

Investment Practice Science Submit
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
GEORGE SOROS

Consequence Global Imagination Market Myself Place Present Trauma
The world order needs a major overhaul.
GEORGE SOROS

Need Order Stop World

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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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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