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 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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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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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 chose America as my home because I value freedom and democracy, civil liberties and an open society.
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The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
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The financial markets play an active role in determining what’s going to happen, how the economy is going to function.
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In politics, manipulating reality can take presidence over finding reality.
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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.
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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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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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The hardest thing to judge is what level of risk is safe.
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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.
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It is credit that matters, not money (in other words, monetarism is a false ideology).
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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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Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
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My approach works not by making valid predictions but by allowing me to correct false ones.
GEORGE SOROS