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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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Successfully
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Anticipate

More quotes by George Soros

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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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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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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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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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The reality is that financial markets are self-destabilizing occasionally they tend toward disequilibrium, not equilibrium.
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Esperanto was a very useful language, because wherever you went, you found someone to speak with.
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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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As a society we can't live without moral considerations. We do have to protect the public good. And markets are not designed to do that, so we need a political process.
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Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
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Once a trend is established it tends to persist and to run it’s full course.
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The pro-Israel lobby has been remarkably successful in suppressing criticism. Politicians challenge it at their peril because of the lobby's ability to influence political contributions.
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I'm only rich because I know when I'm wrong.
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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.
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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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The bureaucratic method of building an integrated Europe has exhausted its potential.
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The ultimate asset bubble is gold.
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In politics, manipulating reality can take presidence over finding reality.
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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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Studying economics is not a good preparation for dealing with it.
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I commissioned two political experts to advise me about what I could do to oppose the re-election of President Bush.
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