The global crisis is caused by pathologies inherent in the global financial system itself.
GEORGE SOROSIt is credit that matters, not money (in other words, monetarism is a false ideology).
More George Soros Quotes
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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.
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Market prices are always wrong in the sense that they present a biased view of the future.
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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.
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I don’t panic. The same thing applies to me as to everybody else, so I’m given to euphoria and despair. And I would say that I basically have survived by recognizing my mistakes.
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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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The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
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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.
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To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
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When money is free, the rational lender will keep on lending until there is no one else to lend to.
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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.
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I’m only rich because I know when I’m wrong.
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If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
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The scope for improvement is infinite, precisely because perfection is unattainable.
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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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The worse a situation becomes the less it takes to turn it around, the bigger the upside.
GEORGE SOROS