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.
GEORGE SOROSDiscount the obvious, bet on the unexpected.
More George Soros Quotes
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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.
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Once a trend is established it tends to persist and to run it’s full course.
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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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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.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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Markets can influence the events that they anticipate.
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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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Market prices are always wrong.
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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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To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.
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It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.
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Every bubble has two components: something – some real trend, and a misconception about that trend.
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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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It is sort of a disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.
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Revolutions usually start with enthusiasm and end in tears.
GEORGE SOROS