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Every bubble has two components: something – some real trend, and a misconception about that trend.

George Soros

I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
GEORGE SOROS

Basic Mistake Recognition Rich Wrong
If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
GEORGE SOROS

Concept Forever Maintain
The scope for improvement is infinite, precisely because perfection is unattainable.
GEORGE SOROS

Attain Improvement Infinite Perfection
The financial markets play an active role in determining what’s going to happen, how the economy is going to function.
GEORGE SOROS

Determination Economics Function Marketing Role
Discount the obvious, bet on the unexpected.
GEORGE SOROS

Discount Expectation Inspirational Risk
If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.
GEORGE SOROS

Boredom Entertainment Investment Money
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
Studying economics is not a good preparation for dealing with it.
GEORGE SOROS

Deal Economics Goodness Preparation Study
The hardest thing to judge is what level of risk is safe.
GEORGE SOROS

Hard Judgement Level Life Risk
The global crisis is caused by pathologies inherent in the global financial system itself.
GEORGE SOROS

Financial Global Path System
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
Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values.
GEORGE SOROS

Establish Fundamental Lying Price Reflection Seek Value
Every bubble has two components: something – some real trend, and a misconception about that trend.
GEORGE SOROS

Component Concept Reality Trend
In politics, manipulating reality can take presidence over finding reality.
GEORGE SOROS

Finding Manipulation Politics Reality
Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
GEORGE SOROS

Certain Expectation Marketing Money State
Misconceptions play a prominent role in my view of the world.
GEORGE SOROS

Concept Play Role View World

Every bubble has two components: something – some real trend, and a misconception about that trend.

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Every bubble has two components: something – some real trend, and a misconception about that trend.

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Popular Authors

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