“The scope for improvement is infinite, precisely because perfection is unattainable.”

To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.

It is credit that matters, not money (in other words, monetarism is a false ideology).

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.

It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.

American supremacy is the greatest threat to the world today.

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.

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

What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.

The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.

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

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.

Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values.

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

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.

The global crisis is caused by pathologies inherent in the global financial system itself.

The worse a situation becomes the less it takes to turn it around, the bigger the upside.

To attain success everyone speaks about consistency, don’t give up & patience but no one talk about the start.

Even when it is not fully attained, we become better by striving for a higher goal.

If you do not hope, you will not win that which is not hoped for, since it is unattainable and inaccessible.

The highest activity a human being can attain is learning for understanding, because to understand is to be free.

We must exercise ourselves in the things which bring happiness, since, if that be present, we have everything, and, if that be absent, all our actions are directed toward attaining it.

Stability can only be attained by inactive matter.

Stability can only be attained by inactive matter.

When I attain before God at the end of my life, I would hope that I would not have a single bit of ability left, and could say, ‘I used everything You gave me.