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The hardest thing to judge is what level of risk is safe.

George Soros

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
I’m only rich because I know when I’m wrong.
GEORGE SOROS

Aware Myself Rich Wrong
Misconceptions play a prominent role in my view of the world.
GEORGE SOROS

Concept Play Role View World
The financial markets play an active role in determining what’s going to happen, how the economy is going to function.
GEORGE SOROS

Determination Economics Function Marketing Role
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 SOROS

Instability Management Money Regulation Risk Transaction Way
In politics, manipulating reality can take presidence over finding reality.
GEORGE SOROS

Finding Manipulation Politics Reality
An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.
GEORGE SOROS

Greatness Interest Member Open Possible Society
As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.
GEORGE SOROS

Discover Greatness Marketing Rise Similar System
Revolutions usually start with enthusiasm and end in tears.
GEORGE SOROS

End Enthusiasm Revolution Start Tears
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.
GEORGE SOROS

Condition Development Gold Interest Rate Ultimate
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.
GEORGE SOROS

Myself Obstacle Opinion Stability Thinking World
Well, you know, I was a human being before I became a businessman.
GEORGE SOROS

Business Career Human Man Myself Transformation
The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
GEORGE SOROS

Marketing Reality Science
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.
GEORGE SOROS

Difference Future Investment Profit Success Yourself
I rely a great deal on animal instincts.
GEORGE SOROS

Animal Greatness Myself
The scope for improvement is infinite, precisely because perfection is unattainable.
GEORGE SOROS

Attain Improvement Infinite Perfection

The hardest thing to judge is what level of risk is safe.

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The hardest thing to judge is what level of risk is safe.

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