Market prices are always wrong in the sense that they present a biased view of the future.
GEORGE SOROSWhen 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.
More George Soros Quotes
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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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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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Increase your bets when you are confident and scale down your positions when you don’t have conviction.
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If we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one’s conceptions and what one does about them. Life can be seen as a fertile fallacy.
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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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Discount the obvious, bet on the unexpected.
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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.
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Studying economics is not a good preparation for dealing with it.
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Every bubble has two components: something – some real trend, and a misconception about that trend.
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My approach works not by making valid predictions but by allowing me to correct false ones.
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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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I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
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There is always a divergence between our perception and what actually exists.
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I’m only rich because I know when I’m wrong.
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When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.
GEORGE SOROS