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 SOROSIf we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one’s conceptions and what one does about them. Life can be seen as a fertile fallacy.
More George Soros Quotes
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Misconceptions play a prominent role in my view of the world.
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The main obstacle to a stable and just world order is the United States.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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Find the trend whose premise is false, and bet against it.
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Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.
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If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.
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There is no point in being confident and having a small position.
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Increase your bets when you are confident and scale down your positions when you don’t have conviction.
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Unfortunately, the more complex the system, the greater the room for error.
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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.
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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.
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I rely a great deal on animal instincts.
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Once a trend is established it tends to persist and to run it’s full course.
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I chose America as my home because I value freedom and democracy, civil liberties and an open society.
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Investors operate with limited funds and intelligence, they do not need to know everything. As long as they understand something better than others, they have an edge.
GEORGE SOROS