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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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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
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Basically

More quotes by George Soros

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These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.
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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.
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My sense of insecurity keeps me alert, always ready to correct my errors.
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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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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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Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.
George Soros
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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 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.
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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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The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
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Market prices are always wrong in the sense that they present a biased view of the future.
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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.
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I have made it a principle to give advice that does not serve my personal interest but rather the common interests.
George Soros
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The bureaucratic method of building an integrated Europe has exhausted its potential.
George Soros
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The people currently in charge have forgotten the first principle of an open society, namely that we may be wrong and that there has to be free discussion. That it's possible to be opposed to the policies without being unpatriotic.
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.
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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.
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Regulating and taxing marijuana would simultaneously save taxpayers billions of dollars in enforcement and incarceration costs, while providing many billions of dollars in revenue annually.
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Well, you know, I was a human being before I became a businessman.
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As I discovered, there is a great deal of similarity between a boom-bust process in the financial markets and the rise and fall of the Soviet system.
George Soros