My sense of insecurity keeps me alert, always ready to correct my errors.
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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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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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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My main concern is with the world order.
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The world order needs a major overhaul.
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Find the trend whose premise is false, and bet against it.
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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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The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
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Market prices are always wrong.
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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.
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Studying economics is not a good preparation for dealing with it.
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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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Unfortunately, the more complex the system, the greater the room for error.
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Revolutions usually start with enthusiasm and end in tears.
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The sovereignty of states must be subordinated to international law and international institutions.
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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