Quote

The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.

George Soros

Change background

T
T
T

Change font

TAGS & TOPICS

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
Opposites
Position
Wisdom
Wrong
Prevailing
Take
Markets
Right
Assume
Always
Opposite
Assuming

More quotes by George Soros

Image
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
Image
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.
George Soros
Image
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.
George Soros
Image
A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.
George Soros
Image
The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.
George Soros
Image
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.
George Soros
Image
Who most benefits from keeping marijuana illegal? The greatest beneficiaries are the major criminal organizations in Mexico and elsewhere that earn billions of dollars annually from this illicit trade - and who would rapidly lose their competitive advantage if marijuana were a legal commodity.
George Soros
Image
America needs to follow the policies it has introduced in Germany. We have to go through a certain de-Nazification process.
George Soros
Image
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
Image
Studying economics is not a good preparation for dealing with it.
George Soros
Image
Of course, speculation will always make a crisis worse. If there is a weak point, it will expose it.
George Soros
Image
If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.
George Soros
Image
The main obstacle to a stable and just world order is the United States. [This idea] happens to coincide with the prevailing opinion in the world. And I think that's rather shocking for Americans to hear.
George Soros
Image
The sovereignty of states must be subordinated to international law and international institutions.
George Soros
Image
Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.
George Soros
Image
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
Image
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
Image
However, even a strong government can't perform miracles. It needs money from the taxpayers.
George Soros
Image
Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. [...] That was absurd.
George Soros
Image
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