I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.
GEORGE SOROSI 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.
More George Soros Quotes
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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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To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
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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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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values.
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Well, you know, I was a human being before I became a businessman.
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I rely a great deal on animal instincts.
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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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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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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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Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.
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There is no point in being confident and having a small position.
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In politics, manipulating reality can take presidence over finding reality.
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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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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.
GEORGE SOROS