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Just as the process of repealing national alcohol prohibition began with individual states repealing their own prohibition laws, so individual states must now take the initiative with respect to repealing marijuana prohibition laws.

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
Law
Prohibition
Individual
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Process
Marijuana
States
Alcohol
Take
Began
Must
National
Laws
Respect
Repealing

More quotes by 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.
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The generally accepted theory is that financial markets tend towards equilibrium, and...discount the future correctly. I operate using a different theory, according to which financial markets cannot possibly discount the future correctly because the do not merely discount the future they help to shape it.
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Studying economics is not a good preparation for dealing with it.
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The more comprehensive and convincing a debt reduction program is, the less likely it is to fail. And remember, just as Germany is grateful to America for the Marshall Plan, Italy would be grateful to Germany for helping it lower its refinancing costs.
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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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Every bubble has two components: something - some real trend, and a misconception about that trend.
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.
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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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Proposition 19 already is a winner no matter what happens on election day. The mere fact of its being on the ballot has elevated and legitimized public discourse about marijuana and marijuana policy in ways I could not have imagined a year ago.
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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The generally accepted view is that markets are always right -- that is, market prices tend to discount future developments accurately even when it is unclear what those developments are. I start with the opposite view. I believe the market prices are always wrong in the sense that they present a biased view of the future.
George Soros
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I have made it a principle to give advice that does not serve my personal interest but rather the common interests.
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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A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.
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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The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don't have much personal use for money.
George Soros
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The world order needs a major overhaul.
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Increase your bets when you are confident and scale down your positions when you don't have conviction.
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Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.
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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.
George Soros