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Discount the obvious, bet on the unexpected.

George Soros

As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.
GEORGE SOROS

Discover Greatness Marketing Rise Similar System
The world order needs a major overhaul.
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Need Order Stop World
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
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.
GEORGE SOROS

Myself Obstacle Opinion Stability Thinking World
To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
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Mistake Myself Pride Recognition Shame Wrong
Misconceptions play a prominent role in my view of the world.
GEORGE SOROS

Concept Play Role View World
Markets can influence the events that they anticipate.
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Anticipate Event Influence Marketing
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
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
GEORGE SOROS

Consequence Global Imagination Market Myself Place Present Trauma
What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.
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Country Resource Run Work
To be successful, you need leisure. You need time hanging heavily on your hands.
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Hands heavy Need Success Time Yourself
Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
GEORGE SOROS

Investment Practice Science Submit
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
The worse a situation becomes the less it takes to turn it around, the bigger the upside.
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Big Myself Situation Worst
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
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

Discount the obvious, bet on the unexpected.

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Discount the obvious, bet on the unexpected.

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