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If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.

George Soros

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
The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
GEORGE SOROS

Country Independent Lying Right Strength Talk Thinking
Increase your bets when you are confident and scale down your positions when you don’t have conviction.
GEORGE SOROS

Confidence Position Scale Yourself
I’m only rich because I know when I’m wrong.
GEORGE SOROS

Aware Myself Rich Wrong
The sovereignty of states must be subordinated to international law and international institutions.
GEORGE SOROS

Institution International Law State
The main obstacle to a stable and just world order is the United States.
GEORGE SOROS

Obstacle Order Stability World
When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.
GEORGE SOROS

Crowd Follow Lose Momentum Rise Time
The world order needs a major overhaul.
GEORGE SOROS

Need Order Stop World
No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That’s one of the positive features of markets. That’s why they function.
GEORGE SOROS

Attention Feature Influence Market Moral Oneself Participant Pay Positive Price
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
Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
GEORGE SOROS

Government Misery Poverty Weakness World
Short term volatility is greatest at turning points and diminishes as a trend becomes established.
GEORGE SOROS

Diminish Establishment Greatness Short Time
Market prices are always wrong in the sense that they present a biased view of the future.
GEORGE SOROS

Future Market Present Price View Wrong
The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
GEORGE SOROS

Marketing Reality Science
If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.
GEORGE SOROS

Myself Operation Practice Skills Survive Training Word
I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
GEORGE SOROS

Better Mistake Move On Opportunity Quick Trade

If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.

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If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.

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