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The reality is that financial markets are self-destabilizing occasionally they tend toward disequilibrium, not equilibrium.

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
Markets
Tend
Financial
Toward
Reality
Destabilizing
Self
Disequilibrium
Equilibrium
Occasionally

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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.
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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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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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I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.
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Every bubble has two components: something - some real trend, and a misconception about that trend.
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However, even a strong government can't perform miracles. It needs money from the taxpayers.
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My main concern is with the world order
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Once a trend is established it tends to persist and to run it’s full course.
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I rely a great deal on animal instincts.
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If truth be known, I carried some rather potent messianic fantasies with me from childhood which I felt I had to control, otherwise I might end up in the loony bin. But when I made my way in the world I wanted to indulge myself in my fantasies to the extent that I could afford.
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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.
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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.
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The scope for improvement is infinite, precisely because perfection is unattainable.
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The ultimate asset bubble is gold.
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Who most benefits from keeping marijuana illegal? The greatest beneficiaries are the major criminal organizations in Mexico and elsewhere that earn billions of dollars annually from this illicit trade - and who would rapidly lose their competitive advantage if marijuana were a legal commodity.
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We [at Soros Fund Management] use options and more exotic derivatives sparingly. We try to catch new trends early and in later stages we try to catch trend reversals. Therefore, we tend to stabilize rather than destabilize the market. We are not doing this as a public service. It is our style of making money.
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The sovereignty of states must be subordinated to international law and international institutions.
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When money is free, the rational lender will keep on lending until there is no one else to lend to.
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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.
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