I’m only rich because I know when I’m wrong.
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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The main obstacle to a stable and just world order is the United States.
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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 worse a situation becomes the less it takes to turn it around, the bigger the upside.
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Short term volatility is greatest at turning points and diminishes as a trend becomes established.
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My approach works not by making valid predictions but by allowing me to correct false ones.
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There is no point in being confident and having a small position.
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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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Markets can influence the events that they anticipate.
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Revolutions usually start with enthusiasm and end in tears.
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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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The scope for improvement is infinite, precisely because perfection is unattainable.
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Studying economics is not a good preparation for dealing with it.
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Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
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If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.
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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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