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As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.

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
Rise
Financial
Bust
Deal
Boom
Deals
Similarity
System
Markets
Process
Soviet
Fall
Investing
Great
Discovered

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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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The hardest thing to judge is what level of risk is safe.
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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.
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My approach works not by making valid predictions but by allowing me to correct false ones.
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An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth.
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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.
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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.
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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.
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Studying economics is not a good preparation for dealing with it.
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The pro-Israel lobby has been remarkably successful in suppressing criticism. Politicians challenge it at their peril because of the lobby's ability to influence political contributions.
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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.
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Political debate is more interested in manipulating the truth, than finding the truth.
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I'm only rich because I know when I'm wrong.
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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.
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Changeless society is characterized by the absense of alternatives.
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We must recognize that as the dominant power in the world we have a special responsibility. In addition to protecting our national interests, we must take the leadership in protecting the common interests of humanity.
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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.
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These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.
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The sovereignty of states must be subordinated to international law and international institutions.
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I think that my foundation uses the money better than the government does. In any event, I do pay taxes.
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