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I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.

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

Establishment Persistence Run
The global crisis is caused by pathologies inherent in the global financial system itself.
GEORGE SOROS

Financial Global Path System
Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
GEORGE SOROS

Concept Growth Market Reality Stock
There is always a divergence between our perception and what actually exists.
GEORGE SOROS

Existence Ourselves Perception
Market prices are always wrong.
GEORGE SOROS

Market One Liner Price 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
Studying economics is not a good preparation for dealing with it.
GEORGE SOROS

Deal Economics Goodness Preparation Study
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
To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
GEORGE SOROS

Mistake Myself Pride Recognition Shame Wrong
I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
GEORGE SOROS

Basic Mistake Recognition Rich Wrong
Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
GEORGE SOROS

Business Health Law Politics Society
Markets can influence the events that they anticipate.
GEORGE SOROS

Anticipate Event Influence Marketing
The world order needs a major overhaul.
GEORGE SOROS

Need Order Stop World

I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.

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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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