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

George Soros

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George Soros
Age: 94
Born: 1930
Born: August 12
Banker
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Buda Pest
György Schwartz
György Soros
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More quotes by George Soros

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Everything adds up to a major crisis. Humanity is faced with a global energy crisis ... The core of the crisis lies in the increasing shortage of oil.
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You could adjust the punishment to fit the infraction. Even a small fine would be enough to bring an errant government to heel.
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Every bubble has two components: something - some real trend, and a misconception about that trend.
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Esperanto was a very useful language, because wherever you went, you found someone to speak with.
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Well, you know, I was a human being before I became a businessman.
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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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My original intention was to spend the money in my lifetime.
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President George W. Bush is endangering the United States and the world's safety while undermining American values.
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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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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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Just as the process of repealing national alcohol prohibition began with individual states repealing their own prohibition laws, so individual states must now take the initiative with respect to repealing marijuana prohibition laws.
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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.
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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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An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth.
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Now that I have called you on your false accusation, you are using additional smear tactics.
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I contend that financial markets never reflect the underlying reality accurately they always distort it in some way or another and the distortions find expression in market prices. Those distortions can, occasionally, find ways to affect the fundamentals that market prices are supposed to reflect.
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Money values do not simply mirror the state of affairs in the real world valuation is a positive act that makes an impact on the course of events. Monetary and real phenomena are connected in a reflexive fashion that is, they influence each other mutually. The reflexive relationship manifests itself most clearly in the use and abuse of credit.
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If the bubbles contain a misconception, as they always do, then it can't be maintained forever.
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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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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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