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Studying economics is not a good preparation for dealing with it.

George Soros

If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.
GEORGE SOROS

Boredom Entertainment Investment Money
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.
GEORGE SOROS

Care Democracy Establishment Freedom Guard Institution Safe Universe
The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don’t have much personal use for money.
GEORGE SOROS

Difference Ideas Interest Kind Money Myself People Personal
There is always a divergence between our perception and what actually exists.
GEORGE SOROS

Existence Ourselves Perception
I’m only rich because I know when I’m wrong.
GEORGE SOROS

Aware Myself Rich Wrong
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
The global crisis is caused by pathologies inherent in the global financial system itself.
GEORGE SOROS

Financial Global Path System
Market prices are always wrong in the sense that they present a biased view of the future.
GEORGE SOROS

Future Market Present Price View Wrong
My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.
GEORGE SOROS

Concept Criticism Frame Important Mistake Myself Wrong
I rely a great deal on animal instincts.
GEORGE SOROS

Animal Greatness Myself
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
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.
GEORGE SOROS

Greatness Interest Member Open Possible Society
American supremacy is the greatest threat to the world today.
GEORGE SOROS

Competition Greatness Rival Threat World
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.
GEORGE SOROS

Element Myself Reality Relate Trend World
Market prices are always wrong.
GEORGE SOROS

Market One Liner Price Wrong
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.
GEORGE SOROS

Basic Despair Fear Mistake Myself Panic Recognition Survive

Studying economics is not a good preparation for dealing with it.

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Studying economics is not a good preparation for dealing with it.

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