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I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.

George Soros

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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
Business Magnate
Businessman
Economist
Financier
Investor
Philanthropist
Philosopher
Trader
Writer
Buda Pest
György Schwartz
György Soros
Wrong
Recognizing
Money
Survived
Investors
Basically
Mistakes
Wealth
Mistake
Rich

More quotes by George Soros

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The reality is that financial markets are self-destabilizing occasionally they tend toward disequilibrium, not equilibrium.
George Soros
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I call government that works the best for people open society, which is basically just another more general term for a democracy that is - you call it maybe a liberal democracy. It's not only majority rule but also respect for minorities and minority opinions and the rule of law. So it's really a sort of institutional democracy.
George Soros
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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.
George Soros
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I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.
George Soros
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Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.
George Soros
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We must recognize that as the dominant power in the world we have a special responsibility. In addition to protecting our national interests, we must take the leadership in protecting the common interests of humanity.
George Soros
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We are the most powerful nation on earth. No external power, no terrorist organization can defeat us. But we can defeat ourselves by getting caught in a quagmire.
George Soros
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We [at Soros Fund Management] use options and more exotic derivatives sparingly. We try to catch new trends early and in later stages we try to catch trend reversals. Therefore, we tend to stabilize rather than destabilize the market. We are not doing this as a public service. It is our style of making money.
George Soros
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If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.
George Soros
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Find the trend whose premise is false, and bet against it.
George Soros
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Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.
George Soros
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I don't use my money to gain political influence for my private interests, which is what many rich people do, and what, in a sense, market fundamentalism does, because it is in the interests of people who have a lot of money to have as little taxes as possible.
George Soros
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To be successful, you need leisure. You need time hanging heavily on your hands.
George Soros
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It is much easier to put existing resources to better use, than to develop resources where they do not exist.
George Soros
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I passionately disagreed with Treasury Secretary Hank Paulson's plan to bail out the banks by using a public fund called the Troubled Asset Relief Program (TARP) to help banks take toxic assets off their balance sheets. I argued that it would be much better to put the money where the hole was and replenish the equity of the banks themselves.
George Soros
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The world order needs a major overhaul.
George Soros
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President George W. Bush is endangering the United States and the world's safety while undermining American values.
George Soros
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The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).
George Soros
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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.
George Soros
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Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the imagination of the German public, and the German public has accepted it.
George Soros