Short term volatility is greatest at turning points and diminishes as a trend becomes established.
GEORGE SOROSIn politics, manipulating reality can take presidence over finding reality.
More George Soros Quotes
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American supremacy is the greatest threat to the world today.
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If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
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When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.
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Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
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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.
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If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.
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Political debate is more interested in manipulating the truth, than finding the truth.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
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The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.
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In politics, manipulating reality can take presidence over finding reality.
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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.
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Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
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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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Markets can influence the events that they anticipate.
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Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
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Unfortunately, the more complex the system, the greater the room for error.
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Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values.
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The main obstacle to a stable and just world order is the United States.
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Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
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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.
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Misconceptions play a prominent role in my view of the world.
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Studying economics is not a good preparation for dealing with it.
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The worse a situation becomes the less it takes to turn it around, the bigger the upside.
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It is credit that matters, not money (in other words, monetarism is a false ideology).
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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.
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