Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
GEORGE SOROSPolitical debate is more interested in manipulating the truth, than finding the truth.
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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Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
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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 fancied myself as some kind of god or an economic reformer like Keynes.
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In politics, manipulating reality can take presidence over finding reality.
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The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
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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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It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.
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My main concern is with the world order.
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Hedge 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.
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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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The hardest thing to judge is what level of risk is safe.
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Market prices are always wrong.
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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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I’m only rich because I know when I’m wrong.
GEORGE SOROS