Misconceptions play a prominent role in my view of the world.
GEORGE SOROSTo 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.
More George Soros Quotes
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The hardest thing to judge is what level of risk is safe.
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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.
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Political debate is more interested in manipulating the truth, than finding the truth.
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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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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.
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Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
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To be successful, you need leisure. You need time hanging heavily on your hands.
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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.
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Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
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Market prices are always wrong.
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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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If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.
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I rely a great deal on animal instincts.
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I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
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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.
GEORGE SOROS