Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.
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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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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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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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 global crisis is caused by pathologies inherent in the global financial system itself.
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There is always a divergence between our perception and what actually exists.
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American supremacy is the greatest threat to the world today.
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Find the trend whose premise is false, and bet against it.
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The hardest thing to judge is what level of risk is safe.
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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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America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
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The sovereignty of states must be subordinated to international law and international institutions.
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Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
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My approach works not by making valid predictions but by allowing me to correct false ones.
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No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That’s one of the positive features of markets. That’s why they function.
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When money is free, the rational lender will keep on lending until there is no one else to lend to.
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