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 SOROSEvery bubble has two components: something – some real trend, and a misconception about that trend.
More George Soros Quotes
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Find the trend whose premise is false, and bet against it.
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Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
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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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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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Once a trend is established it tends to persist and to run it’s full course.
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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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The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.
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My main concern is with the world order.
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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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There is no point in being confident and having a small position.
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Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
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To be successful, you need leisure. You need time hanging heavily on your hands.
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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.
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Markets can influence the events that they anticipate.
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When money is free, the rational lender will keep on lending until there is no one else to lend to.
GEORGE SOROS