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If 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.

George Soros

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
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
My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.
GEORGE SOROS

Concept Criticism Frame Important Mistake Myself Wrong
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.
GEORGE SOROS

Element Myself Reality Relate Trend World
The main obstacle to a stable and just world order is the United States.
GEORGE SOROS

Obstacle Order Stability World
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
The world order needs a major overhaul.
GEORGE SOROS

Need Order Stop World
My approach works not by making valid predictions but by allowing me to correct false ones.
GEORGE SOROS

Correct Fake Myself Oneself Prediction Valid Work
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
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
Unfortunately, the more complex the system, the greater the room for error.
GEORGE SOROS

Complex Errors Fortunate Mistake Room System
Studying economics is not a good preparation for dealing with it.
GEORGE SOROS

Deal Economics Goodness Preparation Study
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
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
Misconceptions play a prominent role in my view of the world.
GEORGE SOROS

Concept Play Role View World
The scope for improvement is infinite, precisely because perfection is unattainable.
GEORGE SOROS

Attain Improvement Infinite Perfection
There is always a divergence between our perception and what actually exists.
GEORGE SOROS

Existence Ourselves Perception
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
GEORGE SOROS

Consequence Global Imagination Market Myself Place Present Trauma
Every bubble has two components: something – some real trend, and a misconception about that trend.
GEORGE SOROS

Component Concept Reality Trend
The hardest thing to judge is what level of risk is safe.
GEORGE SOROS

Hard Judgement Level Life Risk
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
I rely a great deal on animal instincts.
GEORGE SOROS

Animal Greatness Myself
Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
GEORGE SOROS

Assumption Poor Start Wrong Yourself
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.
GEORGE SOROS

Financial Ideas Marketing Prediction
Increase your bets when you are confident and scale down your positions when you don’t have conviction.
GEORGE SOROS

Confidence Position Scale Yourself
Markets can influence the events that they anticipate.
GEORGE SOROS

Anticipate Event Influence Marketing
The sovereignty of states must be subordinated to international law and international institutions.
GEORGE SOROS

Institution International Law State

If 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.

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If 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.

Related Topics

Popular Authors

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