Quote

Studying economics is not a good preparation for dealing with it.

George Soros

Change background

T
T
T

Change font

TAGS & TOPICS

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
Studying
Dealing
Preparation
Economics
Study
Good

More quotes by George Soros

Image
The reality is that financial markets are self-destabilizing occasionally they tend toward disequilibrium, not equilibrium.
George Soros
Image
The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
George Soros
Image
Increase your bets when you are confident and scale down your positions when you don't have conviction.
George Soros
Image
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
Image
Market prices are always wrong.
George Soros
Image
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
Image
Now that I have called you on your false accusation, you are using additional smear tactics.
George Soros
Image
Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.
George Soros
Image
When you sell options, you get paid for assuming risk. That can be a profitable business, but it does not mix well with the risks inherent in a leveraged portfolio.
George Soros
Image
Money values do not simply mirror the state of affairs in the real world valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit.
George Soros
Image
I'm only rich because I know when I'm wrong.
George Soros
Image
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
Image
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
Image
There is always a divergence between our perception and what actually exists.
George Soros
Image
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
Image
The main obstacle to a stable and just world order is the United States. [This idea] happens to coincide with the prevailing opinion in the world. And I think that's rather shocking for Americans to hear.
George Soros
Image
Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. [...] That was absurd.
George Soros
Image
It is better to have a cat and mouse game where the cat has the upper hand than a cat and mouse game where the mice are ruling. Because the latter means that the market participants are given free range. That was actually the big misconception of our national hero Ronald Reagan, who always talked about the magic of the market.
George Soros
Image
Well, you know, I was a human being before I became a businessman.
George Soros
Image
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