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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

George Soros

The scope for improvement is infinite, precisely because perfection is unattainable.
GEORGE SOROS

Attain Improvement Infinite Perfection
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.
GEORGE SOROS

Condition Development Gold Interest Rate Ultimate
I fancied myself as some kind of god or an economic reformer like Keynes.
GEORGE SOROS

Economics Fancy God Kind
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
My sense of insecurity keeps me alert, always ready to correct my errors.
GEORGE SOROS

Correction Errors Insecurity Myself
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
Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
GEORGE SOROS

Condition Failure Human Imperfection Mistake Ourselves Understand Wrong
The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
GEORGE SOROS

Marketing Myself Opposite Right Wisdom
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

Better Intelligence Investment Limitation Understand
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
In politics, manipulating reality can take presidence over finding reality.
GEORGE SOROS

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

Establishment Persistence Run
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
If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
GEORGE SOROS

Concept Forever Maintain
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
GEORGE SOROS

Consequence Global Imagination Market Myself Place Present Trauma
The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.
GEORGE SOROS

Financial Ideas Marketing Prediction

The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

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