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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

Unfortunately, the more complex the system, the greater the room for error.
GEORGE SOROS

Complex Errors Fortunate Mistake Room System
If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.
GEORGE SOROS

Care Democracy Establishment Freedom Guard Institution Safe Universe
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.
GEORGE SOROS

Discover Greatness Marketing Rise Similar System
Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
GEORGE SOROS

Concept Growth Market Reality Stock
Find the trend whose premise is false, and bet against it.
GEORGE SOROS

Fake Finding Trend
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 main obstacle to a stable and just world order is the United States.
GEORGE SOROS

Obstacle Order Stability World
The main obstacle to a stable and just world order is the United States. [This idea] happens to coincide with the prevailing opinion in the world. And I think that’s rather shocking for Americans to hear.
GEORGE SOROS

Myself Obstacle Opinion Stability Thinking World
Increase your bets when you are confident and scale down your positions when you don’t have conviction.
GEORGE SOROS

Confidence Position Scale Yourself
To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
GEORGE SOROS

Mistake Myself Pride Recognition Shame Wrong
I fancied myself as some kind of god or an economic reformer like Keynes.
GEORGE SOROS

Economics Fancy God Kind
When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
GEORGE SOROS

Condition Development Gold Interest Rate Ultimate
Misconceptions play a prominent role in my view of the world.
GEORGE SOROS

Concept Play Role View World
If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
GEORGE SOROS

Concept Forever Maintain
I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
GEORGE SOROS

Better Mistake Move On Opportunity Quick Trade
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.
GEORGE SOROS

Difference Ideas Interest Kind Money Myself People Personal

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.

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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.

Related Topics

Popular Authors

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