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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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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
Start
Generally
Developments
Wrong
Accepted
Biased
Future
Tend
Accurately
Sense
Market
Prices
Right
View
Markets
Even
Development
Investing
Discount
Believe
Views
Opposite
Discounts
Always
Present
Opposites
Unclear

More quotes by 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
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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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Once a trend is established it tends to persist and to run it’s full course.
George Soros
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I fancied myself as some kind of god or an economic reformer like Keynes
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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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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As a society we can't live without moral considerations. We do have to protect the public good. And markets are not designed to do that, so we need a political process.
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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Every bubble has two components: something - some real trend, and a misconception about that trend.
George Soros
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Market prices are always wrong.
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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Studying economics is not a good preparation for dealing with it.
George Soros
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I rely a great deal on animal instincts.
George Soros
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The ultimate asset bubble is gold.
George Soros
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The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.
George Soros
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Market prices are always wrong in the sense that they present a biased view of the future.
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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You could adjust the punishment to fit the infraction. Even a small fine would be enough to bring an errant government to heel.
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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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