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In politics, manipulating reality can take presidence over finding reality.

George Soros

Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.
GEORGE SOROS

Instability Management Money Regulation Risk Transaction Way
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.
GEORGE SOROS

Beginning Comfortable Creation God Kind Live Myself Sick
Studying economics is not a good preparation for dealing with it.
GEORGE SOROS

Deal Economics Goodness Preparation Study
The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
GEORGE SOROS

Marketing Myself Opposite Right Wisdom
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
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
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
Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
GEORGE SOROS

Government Misery Poverty Weakness World
My approach works not by making valid predictions but by allowing me to correct false ones.
GEORGE SOROS

Correct Fake Myself Oneself Prediction Valid Work
I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
GEORGE SOROS

Basic Mistake Recognition Rich Wrong
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
The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
GEORGE SOROS

Country Independent Lying Right Strength Talk Thinking
My sense of insecurity keeps me alert, always ready to correct my errors.
GEORGE SOROS

Correction Errors Insecurity Myself
I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them.
GEORGE SOROS

Criticism Myself Qualification Reality Study Theory
America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
GEORGE SOROS

Introduction Policy Process
Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
GEORGE SOROS

Business Health Law Politics Society

In politics, manipulating reality can take presidence over finding reality.

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In politics, manipulating reality can take presidence over finding reality.

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