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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
Banker
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Buda Pest
György Schwartz
György Soros
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More quotes by George Soros

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The scope for improvement is infinite, precisely because perfection is unattainable.
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A full and fair discussion is essential to democracy.
George Soros
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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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I contend that financial markets never reflect the underlying reality accurately they always distort it in some way or another and the distortions find expression in market prices. Those distortions can, occasionally, find ways to affect the fundamentals that market prices are supposed to reflect.
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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There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.
George Soros
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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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The world order needs a major overhaul.
George Soros
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I admire Chancellor Merkel for her leadership qualities, but she is leading Europe in the wrong direction.
George Soros
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I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.
George Soros
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An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.
George Soros
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The bureaucratic method of building an integrated Europe has exhausted its potential.
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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Discount the obvious, bet on the unexpected
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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Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.
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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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
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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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