George Soros Quotes - Page 4

Quotes about:

• My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.

  George Soros

  Mistake, Decision, Framework

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• Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.

  George Soros

  Real, Two, Investing

  George Soros (2009). “The crash of 2008 and what it means [electronic resource]: the new paradigm for financial markets”, p.10, PublicAffairs

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• 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

  People, Evil, World

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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

  Gold, Investing, Moments

  "Soros and Paulson move in opposite directions as gold declines" by Tom Bawden, www.theguardian.com. March 6, 2011.

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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.

  George Soros

  Hurt, Omnipotence, Long

  George Soros (1994). “The Alchemy of Finance: Reading the Mind of the Market”, p.363, John Wiley & Sons

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• No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That's one of the positive features of markets. That's why they function.

  George Soros

  Attention, Morality, Influence

  Source: www.sbs.com.au

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• Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.

  George Soros

  Country, Swings, Balls

  "The Crisis of Global Capitalism: Open Society Endangered". Book by George Soros, 1998.

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• 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

  Risk, Doe, Investing

  George Soros, Byron Wien, Krisztina Koenen (1995). “Soros on Soros: Staying Ahead of the Curve”, p.5, John Wiley & Sons

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• I am not well qualified to criticize the theory of rational expectations and the efficient market hypothesis because as a market participant I considered them so unrealistic that I never bothered to study them.

  George Soros

  Expectations, Study, Theory

  George Soros' Remarks at the Festival of Economics, www.georgesoros.com. June 2, 2012.

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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

  Fall, Investing, Financial

  George Soros (1994). “The Alchemy of Finance: Reading the Mind of the Market”, p.5, John Wiley & Sons

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• By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.

  George Soros

  Country, Government, Creating

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• The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.

  George Soros

  Reality, Self, Financial

  "My Interview with George Soros: End of Financial Crisis Could Be in Sight". Interview with Nathan Gardels, www.huffingtonpost.com. November 12, 2008.

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• The financial markets play an active role in determining what's going to happen, how the economy is going to function.

  George Soros

  Play, Roles, Financial

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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

  Risk, Use, Credit

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• It is credit that matters, not money (in other words, monetarism is a false ideology).

  George Soros

  Investing, Credit, Matter

  George Soros (1994). “The Alchemy of Finance: Reading the Mind of the Market”, p.20, John Wiley & Sons

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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

  People, Being Free, Firsts

  "Now on PBS" with David Brancaccio, www.pbs.org. September 12, 2003.

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• To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.

  George Soros

  Government, People, Mind

  Interview with Mark Shapiro, September 05, 2000.

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• Market prices are always wrong in the sense that they present a biased view of the future.

  George Soros

  Views, Biased, Always Wrong

  George Soros (1994). “The Alchemy of Finance: Reading the Mind of the Market”, p.14, John Wiley & Sons

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• Taking this view, it is possible to see financial markets as a laboratory for testing hypotheses, albeit not strictly scientific ones. The truth is, successful investing is a kind of alchemy.

  George Soros

  Successful, Views, Investing

  George Soros (1994). “The Alchemy of Finance: Reading the Mind of the Market”, p.14, John Wiley & Sons

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• An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.

  George Soros

  Degrees, Economy, Members

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• Markets are imperfect. So you do need regulation, knowing that the regulators are also human.

  George Soros

  Knowing, Needs, Regulation

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• I would be lying, however, if I claimed that I could always formulate worthwhile hypotheses on the basis of my theoretical framework. Sometimes there were no reflexive processes to be found; sometimes I failed to find them; and, what was the most painful of all, sometimes I got them wrong. One way or another, I often invested without a worthwhile hypothesis and my activities were not very different from a random walk.

  George Soros

  Lying, Different, Would Be

  George Soros (1994). “The Alchemy of Finance: Reading the Mind of the Market”, p.14, John Wiley & Sons

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• Changeless society is characterized by the absense of alternatives.

  George Soros

  Alternatives

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• We are the most powerful nation on earth. No external power, no terrorist organization can defeat us. But we can defeat ourselves by getting caught in a quagmire.

  George Soros

  Powerful, Organization, Quagmire

  "Why I Have Campaigned Across America to Put John Kerry in the White House". Speech at the National Press Club, www.independent.co.uk. November 02, 2004.

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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.

  George Soros

  Country, Struggle, Europe

  "George Soros on the Euro Crisis". Interview with Der Spiegel, www.georgesoros.com. June 26, 2012.

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