Find the trend whose premise is false, and bet against it.
GEORGE SOROSThe financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.
More George Soros Quotes
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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.
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Market prices are always wrong.
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To be successful, you need leisure. You need time hanging heavily on your hands.
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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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Market prices are always wrong in the sense that they present a biased view of the future.
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The hardest thing to judge is what level of risk is safe.
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The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don’t have much personal use for money.
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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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Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.
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The main obstacle to a stable and just world order is the United States. [This idea] happens to coincide with the prevailing opinion in the world. And I think that’s rather shocking for Americans to hear.
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Revolutions usually start with enthusiasm and end in tears.
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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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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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If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.
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My main concern is with the world order.
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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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The sovereignty of states must be subordinated to international law and international institutions.
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Misconceptions play a prominent role in my view of the world.
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I chose America as my home because I value freedom and democracy, civil liberties and an open society.
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There is always a divergence between our perception and what actually exists.
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The scope for improvement is infinite, precisely because perfection is unattainable.
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The main obstacle to a stable and just world order is the United States.
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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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I’m only rich because I know when I’m wrong.
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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
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When money is free, the rational lender will keep on lending until there is no one else to lend to.
GEORGE SOROS