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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
Basically
Mistakes
Wealth
Mistake
Rich
Wrong
Recognizing
Money
Survived
Investors

More quotes by George Soros

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Everything adds up to a major crisis. Humanity is faced with a global energy crisis ... The core of the crisis lies in the increasing shortage of oil.
George Soros
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My approach works not by making valid predictions but by allowing me to correct false ones.
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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I contend that financial markets never reflect the underlying reality accurately they always distort it in some way or another and the distortions find expression in market prices. Those distortions can, occasionally, find ways to affect the fundamentals that market prices are supposed to reflect.
George Soros
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Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test. The main difference is that the hypothesis that underlies an investment decision is intended to make money and not to establish a universally valid generalization.
George Soros
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Every bubble has two components: something - some real trend, and a misconception about that trend.
George Soros
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Of course, speculation will always make a crisis worse. If there is a weak point, it will expose it.
George Soros
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At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But it will also need additional revenues. Should the government not receive them, we will all get punished with higher interest rates.
George Soros
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An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth.
George Soros
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Bush's war in Iraq has done untold damage to the United States. It has impaired our military power and undermined the morale of our armed forces. Our troops were trained to project overwhelming power. They were not trained for occupation duties.
George Soros
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Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.
George Soros
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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
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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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The hardest thing to judge is what level of risk is safe.
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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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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Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention, and I wouldn't underestimate the value of that. But they're not designed to take care of social needs.
George Soros
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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.
George Soros
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My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.
George Soros
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When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
George Soros