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

George Soros

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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
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Businessman
Economist
Financier
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György Schwartz
György Soros
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Economics
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More quotes by George Soros

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Increase your bets when you are confident and scale down your positions when you don't have conviction.
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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There is always a divergence between our perception and what actually exists.
George Soros
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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
George Soros
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America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
George Soros
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Discount the obvious, bet on the unexpected
George Soros
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The people currently in charge have forgotten the first principle of an open society, namely that we may be wrong and that there has to be free discussion. That it's possible to be opposed to the policies without being unpatriotic.
George Soros
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Esperanto was a very useful language, because wherever you went, you found someone to speak with.
George Soros
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The lower interest rates fueled housing and consumption booms in countries such as Spain and Ireland. At the same time, Germany, struggling with the burdens of reunification, tightened its belt and became more competitive. All this led to a wide divergence in economic performance. Europe became divided into creditor and debtor countries.
George Soros
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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
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Changeless society is characterized by the absense of alternatives.
George Soros
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The worse a situation becomes the less it takes to turn it around, the bigger the upside.
George Soros
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If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.
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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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
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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 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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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.
George Soros
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I think it is natural that every country has to take care of its interests, but there are some interests that are common to all countries. There are some human interests, or we need also international cooperation. We've sometimes confused it with dictation.
George Soros
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Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited.
George Soros