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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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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
Burden
Debt
Regaining
Countries
Restructuring
Keys
Competitiveness
Chance
Weaker
Problem
Euro
Country
Reduced
Long
Zone
More quotes by George Soros
The world order needs a major overhaul.
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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.
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There is always a divergence between our perception and what actually exists.
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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.
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I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.
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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.
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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
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.
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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.
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Find the trend whose premise is false, and bet against it.
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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.
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The bureaucratic method of building an integrated Europe has exhausted its potential.
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Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test. The main difference is that the hypothesis that underlies an investment decision is intended to make money and not to establish a universally valid generalization.
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The worse a situation becomes the less it takes to turn it around, the bigger the upside.
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I admire Chancellor Merkel for her leadership qualities, but she is leading Europe in the wrong direction.
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I think that my foundation uses the money better than the government does. In any event, I do pay taxes.
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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.
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The reality is that financial markets are self-destabilizing occasionally they tend toward disequilibrium, not equilibrium.
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Now that I have called you on your false accusation, you are using additional smear tactics.
George Soros
I fancied myself as some kind of god or an economic reformer like Keynes
George Soros