“There is no point in being confident and having a small position.”

Find the trend whose premise is false, and bet against it.

My main concern is with the world order.

If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.

I chose America as my home because I value freedom and democracy, civil liberties and an open society.

When money is free, the rational lender will keep on lending until there is no one else to lend to.

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.

In politics, manipulating reality can take presidence over finding reality.

Discount the obvious, bet on the unexpected.

There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.

Once a trend is established it tends to persist and to run it’s full course.

My sense of insecurity keeps me alert, always ready to correct my errors.

Misconceptions play a prominent role in my view of the world.

I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

Studying economics is not a good preparation for dealing with it.

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.

The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.

You’ve got to jump off cliffs and build your wings on the way down.

You weren’t an accident. You weren’t mass produced. You aren’t an assembly-line product. You were deliberately planned, specifically gifted, and lovingly positioned on the earth by the Master Craftsman.

One important key to success is self-confidence. An important key to self-confidence is preparation.

Sometimes being young and confident is better than being old with experience.When I was young I wasn’t scared about anything.

Confidence is the stain they can’t wipe off.

If you are determined and confident, there is nothing in this great existence that can stop you from achieving what you want.

Regardless of how you feel inside, always try to look like a winner.

Success is a nice thing because it always means you’ve taken a step forward and it gives you a sense of pride, which in turn gives you confidence and experience-a positive circle, so to speak.