There is always a divergence between our perception and what actually exists.
GEORGE SOROSInvestors 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.
More George Soros Quotes
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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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Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
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The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.
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In politics, manipulating reality can take presidence over finding reality.
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There is no point in being confident and having a small position.
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The scope for improvement is infinite, precisely because perfection is unattainable.
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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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My main concern is with the world order.
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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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Short term volatility is greatest at turning points and diminishes as a trend becomes established.
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The world order needs a major overhaul.
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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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Discount the obvious, bet on the unexpected.
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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 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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