Market prices are always wrong.
GEORGE SOROSI chose America as my home because I value freedom and democracy, civil liberties and an open society.
More George Soros Quotes
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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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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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Once a trend is established it tends to persist and to run it’s full course.
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The global crisis is caused by pathologies inherent in the global financial system itself.
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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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Markets can influence the events that they anticipate.
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The world order needs a major overhaul.
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I’m only rich because I know when I’m wrong.
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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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I rely a great deal on animal instincts.
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Increase your bets when you are confident and scale down your positions when you don’t have conviction.
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Every bubble has two components: something – some real trend, and a misconception about that trend.
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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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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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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