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

Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.

Market prices are always wrong.

There is always a divergence between our perception and what actually exists.

The main obstacle to a stable and just world order is the United States. [This idea] happens to coincide with the prevailing opinion in the world. And I think that’s rather shocking for Americans to hear.

The financial markets play an active role in determining what’s going to happen, how the economy is going to function.

Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.

I rely a great deal on animal instincts.

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.

Well, you know, I was a human being before I became a businessman.

The sovereignty of states must be subordinated to international law and international institutions.

Find the trend whose premise is false, and bet against it.

My main concern is with the world order.

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

I chose America as my home because I value freedom and democracy, civil liberties and an open society.

When money is free, the rational lender will keep on lending until there is no one else to lend to.

To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.

Be reactionary. React to what the market wants. And the market wants one-on-one real time engagement. Now that we have the tools to engage, I’m going to continue fighting for the end user.

No matter how exceptional your product, you won’t benefit financially if you can’t sell it.

The financial markets play an active role in determining what’s going to happen, how the economy is going to function.

The average result has to be the average result. By definition, everybody can’t beat the market. As I always say, the iron rule of life is that only 20% of the people can be in the top fifth. That’s just the way it is.

Authentic brands don’t emerge from marketing cubicles or advertising agencies. They emanate from everything the company does.

Social marketing is now a 24-7 job.

In order to be a great marketer, you have to be focused and intense and look at scarcity, urgency, activity and passion in the marketplace.

When growth is slower than expected, stocks go down. When inflation is higher than expected, bonds go down. When inflation’s lower than expected, bonds go up.