To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
GEORGE SOROSThe prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
More George Soros Quotes
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Misconceptions play a prominent role in my view of the world.
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Once a trend is established it tends to persist and to run it’s full course.
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I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
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There is always a divergence between our perception and what actually exists.
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Market prices are always wrong.
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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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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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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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Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
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Increase your bets when you are confident and scale down your positions when you don’t have conviction.
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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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Investors 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.
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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
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American supremacy is the greatest threat to the world today.
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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.
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