I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
GEORGE SOROSLaw has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
More George Soros Quotes
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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.
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The main obstacle to a stable and just world order is the United States.
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I rely a great deal on animal instincts.
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Market prices are always wrong.
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Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
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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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If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.
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If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.
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The financial markets play an active role in determining what’s going to happen, how the economy is going to function.
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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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The worse a situation becomes the less it takes to turn it around, the bigger the upside.
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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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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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The hardest thing to judge is what level of risk is safe.
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Every bubble has two components: something – some real trend, and a misconception about that trend.
GEORGE SOROS