Investors operate with limited funds and intelligence, they do not need to know everything. As long as they understand something better than others, they have an edge.
GEORGE SOROSMy main concern is with the world order.
More George Soros Quotes
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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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It is credit that matters, not money (in other words, monetarism is a false ideology).
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Market prices are always wrong.
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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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There is always a divergence between our perception and what actually exists.
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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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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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I’m only rich because I know when I’m wrong.
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My approach works not by making valid predictions but by allowing me to correct false ones.
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Revolutions usually start with enthusiasm and end in tears.
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I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
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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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I fancied myself as some kind of god or an economic reformer like Keynes.
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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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My main concern is with the world order.
GEORGE SOROS