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Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the imagination of the German public, and the German public has accepted it.

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
Caught
Created
Imagination
Public
Euro
Working
German
Cannot
Narrative
Change
Realized
Accepted

More quotes by 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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The sovereignty of states must be subordinated to international law and international institutions.
George Soros
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Political debate is more interested in manipulating the truth, than finding the truth.
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My main concern is with the world order
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Of course, speculation will always make a crisis worse. If there is a weak point, it will expose it.
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 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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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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Every bubble has two components: something - some real trend, and a misconception about that trend.
George Soros
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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.
George Soros
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Market prices are always wrong in the sense that they present a biased view of the future.
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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There is always a divergence between our perception and what actually exists.
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 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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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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I'm only rich because I know when I'm wrong.
George Soros
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My original intention was to spend the money in my lifetime.
George Soros
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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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My approach works not by making valid predictions but by allowing me to correct false ones.
George Soros