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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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The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).
George Soros
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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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We must recognize that as the dominant power in the world we have a special responsibility. In addition to protecting our national interests, we must take the leadership in protecting the common interests of humanity.
George Soros
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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.
George Soros
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Once a trend is established it tends to persist and to run it’s full course.
George Soros
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The generally accepted theory is that financial markets tend towards equilibrium, and...discount the future correctly. I operate using a different theory, according to which financial markets cannot possibly discount the future correctly because the do not merely discount the future they help to shape it.
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.
George Soros
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A full and fair discussion is essential to democracy.
George Soros
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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.
George Soros
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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.
George Soros
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Now that I have called you on your false accusation, you are using additional smear tactics.
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.
George Soros
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When interest rates are low we have conditions for asset bubbles to develop, and they are developing at the moment. The ultimate asset bubble is gold.
George Soros
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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.
George Soros
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However, even a strong government can't perform miracles. It needs money from the taxpayers.
George Soros
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Bush's war in Iraq has done untold damage to the United States. It has impaired our military power and undermined the morale of our armed forces. Our troops were trained to project overwhelming power. They were not trained for occupation duties.
George Soros
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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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My sense of insecurity keeps me alert, always ready to correct my errors.
George Soros
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Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.
George Soros
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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.
George Soros