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I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

George Soros

I fancied myself as some kind of god or an economic reformer like Keynes.
GEORGE SOROS

Economics Fancy God Kind
The global crisis is caused by pathologies inherent in the global financial system itself.
GEORGE SOROS

Financial Global Path System
Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
GEORGE SOROS

Assumption Poor Start Wrong Yourself
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 SOROS

Concept Growth Market Reality Stock
Revolutions usually start with enthusiasm and end in tears.
GEORGE SOROS

End Enthusiasm Revolution Start Tears
I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
GEORGE SOROS

Better Mistake Move On Opportunity Quick Trade
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.
GEORGE SOROS

Carry Flaw Life Logic Meaning Oneself See
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
Studying economics is not a good preparation for dealing with it.
GEORGE SOROS

Deal Economics Goodness Preparation Study
There is always a divergence between our perception and what actually exists.
GEORGE SOROS

Existence Ourselves Perception
When 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.
GEORGE SOROS

Condition Development Gold Interest Rate Ultimate
Short term volatility is greatest at turning points and diminishes as a trend becomes established.
GEORGE SOROS

Diminish Establishment Greatness Short Time
The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
GEORGE SOROS

Marketing Reality Science
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

Follow Institution Performance Relation Trend Trouble
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.
GEORGE SOROS

Attention Feature Influence Market Moral Oneself Participant Pay Positive Price
The sovereignty of states must be subordinated to international law and international institutions.
GEORGE SOROS

Institution International Law State

I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

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I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.

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