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To be successful, you need leisure. You need time hanging heavily on your hands.

George Soros

There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.
GEORGE SOROS

Difference Future Investment Profit Success Yourself
When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.
GEORGE SOROS

Crowd Follow Lose Momentum Rise Time
I chose America as my home because I value freedom and democracy, civil liberties and an open society.
GEORGE SOROS

Freedom Home Myself Open Society Value
There is no point in being confident and having a small position.
GEORGE SOROS

Confidence Position Small
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
GEORGE SOROS

Consequence Global Imagination Market Myself Place Present Trauma
Market prices are always wrong.
GEORGE SOROS

Market One Liner Price Wrong
An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.
GEORGE SOROS

Greatness Interest Member Open Possible Society
America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
GEORGE SOROS

Introduction Policy Process
The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
GEORGE SOROS

Believe Enemy Myself Open Society Threat
What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.
GEORGE SOROS

Country Resource Run Work
The 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.
GEORGE SOROS

Financial Ideas Marketing Prediction
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

Carry Flaw Life Logic Meaning Oneself See
Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.
GEORGE SOROS

Element Myself Reality Relate Trend World
Increase your bets when you are confident and scale down your positions when you don’t have conviction.
GEORGE SOROS

Confidence Position Scale Yourself
My sense of insecurity keeps me alert, always ready to correct my errors.
GEORGE SOROS

Correction Errors Insecurity Myself
Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
GEORGE SOROS

Condition Failure Human Imperfection Mistake Ourselves Understand Wrong

To be successful, you need leisure. You need time hanging heavily on your hands.

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To be successful, you need leisure. You need time hanging heavily on your hands.

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