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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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George Soros
Age: 94
Born: 1930
Born: August 12
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György Schwartz
György Soros
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More quotes by George Soros

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The key problem is the debt restructuring in the euro zone. As long as the debt burden is not reduced, there is no chance of the weaker EU countries regaining competitiveness.
George Soros
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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.
George Soros
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If the bubbles contain a misconception, as they always do, then it can't be maintained forever.
George Soros
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We are the most powerful nation on earth. No external power, no terrorist organization can defeat us. But we can defeat ourselves by getting caught in a quagmire.
George Soros
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The sovereignty of states must be subordinated to international law and international institutions.
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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Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention, and I wouldn't underestimate the value of that. But they're not designed to take care of social needs.
George Soros
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When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
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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I have made it a principle to give advice that does not serve my personal interest but rather the common interests.
George Soros
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China could easily emerge as the great winner if the Chinese leaders handle the situation well. On the other hand, they could also turn out to be the biggest losers if they handle it poorly. If the management turns out be wrong, this could lead to a political crisis in China.
George Soros
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My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.
George Soros
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Changeless society is characterized by the absense of alternatives.
George Soros
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The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.
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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Studying economics is not a good preparation for dealing with it.
George Soros
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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.
George Soros
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Markets are imperfect. So you do need regulation, knowing that the regulators are also human.
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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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