The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
GEORGE SOROSThe reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
More George Soros Quotes
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Studying economics is not a good preparation for dealing with it.
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Misconceptions play a prominent role in my view of the world.
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In politics, manipulating reality can take presidence over finding reality.
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The hardest thing to judge is what level of risk is safe.
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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
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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.
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I rely a great deal on animal instincts.
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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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Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.
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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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The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
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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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Political debate is more interested in manipulating the truth, than finding the truth.
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Discount the obvious, bet on the unexpected.
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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.
GEORGE SOROS