Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.
GEORGE SOROSAmerica needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
More George Soros Quotes
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I fancied myself as some kind of god or an economic reformer like Keynes.
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Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
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To be successful, you need leisure. You need time hanging heavily on your hands.
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The scope for improvement is infinite, precisely because perfection is unattainable.
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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.
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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.
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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.
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Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
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Market prices are always wrong.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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There is no point in being confident and having a small position.
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Short term volatility is greatest at turning points and diminishes as a trend becomes established.
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Once a trend is established it tends to persist and to run it’s full course.
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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
GEORGE SOROS