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Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.

George Soros

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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
Business Magnate
Businessman
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Buda Pest
György Schwartz
György Soros
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More quotes by 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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To be successful, you need leisure. You need time hanging heavily on your hands.
George Soros
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Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.
George Soros
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I'm only rich because I know when I'm wrong.
George Soros
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I rely a great deal on animal instincts.
George Soros
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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.
George Soros
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As an anonymous participant in financial markets, I never had to weigh the social consequences of my actions ... I felt justified in ignoring them on the grounds that I was playing by the rules.
George Soros
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My sense of insecurity keeps me alert, always ready to correct my errors.
George Soros
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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.
George Soros
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The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don't have much personal use for money.
George Soros
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However, even a strong government can't perform miracles. It needs money from the taxpayers.
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
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The hardest thing to judge is what level of risk is safe.
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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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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Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
George Soros
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When it comes to social consequences, they've got all different people acting in different ways, very difficult to even have a proper criterion of success. So, it's a difficult task.
George Soros
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Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.
George Soros
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Market prices are always wrong.
George Soros