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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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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
Misconception
Maintained
Contain
Bubbles
Forever
Always

More quotes by George Soros

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When money is free, the rational lender will keep on lending until there is no one else to lend to.
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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I passionately disagreed with Treasury Secretary Hank Paulson's plan to bail out the banks by using a public fund called the Troubled Asset Relief Program (TARP) to help banks take toxic assets off their balance sheets. I argued that it would be much better to put the money where the hole was and replenish the equity of the banks themselves.
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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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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There is no doubt that the countries that now have a very large debt have not introduced the kind of structural reforms that Germany did and are therefore at a disadvantage. But the problem is that this disadvantage is becoming even more pronounced through the punitive policies in place.
George Soros
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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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Financial markets ... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.
George Soros
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The only thing that could hurt me is if my success encouraged me to return to my childhood fantasies of omnipotence - but that is not likely to happen as long as I remain engaged in the financial markets, because they constantly remind me of my limitations.
George Soros
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President George W. Bush is endangering the United States and the world's safety while undermining American values.
George Soros
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Just as the process of repealing national alcohol prohibition began with individual states repealing their own prohibition laws, so individual states must now take the initiative with respect to repealing marijuana prohibition laws.
George Soros
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The scope for improvement is infinite, precisely because perfection is unattainable.
George Soros
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If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.
George Soros
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Discount the obvious, bet on the unexpected
George Soros
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I'm only rich because I know when I'm wrong.
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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I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.
George Soros
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The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
George Soros
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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.
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