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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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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
Clearly
Instability
Credit
Transactions
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Managing
Risk
Funds
Use
Involving
Money
Risks
Way
Efficient
Hedge
Fund
Regulated

More quotes by 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.
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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.
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A full and fair discussion is essential to democracy.
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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.
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Changeless society is characterized by the absense of alternatives.
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The hardest thing to judge is what level of risk is safe.
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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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Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.
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Discount the obvious, bet on the unexpected
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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.
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The reality is that financial markets are self-destabilizing occasionally they tend toward disequilibrium, not equilibrium.
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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.
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The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don't have much personal use for money.
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Investors operate with limited funds and intelligence, they do not need to know everything. As long as they understand something better than others, they have an edge.
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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.
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I don't use my money to gain political influence for my private interests, which is what many rich people do, and what, in a sense, market fundamentalism does, because it is in the interests of people who have a lot of money to have as little taxes as possible.
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My approach works not by making valid predictions but by allowing me to correct false ones.
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If every rich person gave 50 percent of their wealth to charity, I would not say they should pay more taxes.
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The scope for improvement is infinite, precisely because perfection is unattainable.
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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.
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