Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
GEORGE SOROSI’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
More George Soros Quotes
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My approach works not by making valid predictions but by allowing me to correct false ones.
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My main concern is with the world order.
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Market prices are always wrong in the sense that they present a biased view of the future.
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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.
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I chose America as my home because I value freedom and democracy, civil liberties and an open society.
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The hardest thing to judge is what level of risk is safe.
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Well, you know, I was a human being before I became a businessman.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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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 reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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When money is free, the rational lender will keep on lending until there is no one else to lend to.
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No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That’s one of the positive features of markets. That’s why they function.
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There is no point in being confident and having a small position.
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The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
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The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.
GEORGE SOROS