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"36 George Soros Quotes & Sayings

      Hungarian     /     View profile
Born: 12 August 1930. | Investor | Philanthropist |

I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.

Rich Wrong Recognizing My mistakes
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. When money is free, the rational lender will keep on lending until there is no one else to lend to.

Money Free National lender Lend to
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The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.

Financial markets Unpredictable Scenarios
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I was a human being before I became a businessman.

Human being Businessman
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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.

Markets Uncertainty Flux Money
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The worse a situation becomes, the less it takes to turn it around, and the bigger the upside.

Situation become Around Bigger
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Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.

Realize Imperfect understanding Human
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Stock market bubbles don't grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.

Stock market Grow out Solid basis Misconception
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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.
Most powerful Nation Terrorist organization Defeat us
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Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.

Poverty Misery World Government
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Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.

Whenever Conflict Universal principles Self interest
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If we care about universal principles such as freedom, democracy and the rule of law, we cannot leave them to the care of market forces; we must establish some other institutions to safeguard them.

Care Universal principles Freedom Rule of law
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We can speak of the triumph of capitalism in the world, but we cannot yet speak about the triumph of democracy. There is a serious mismatch between the political and the economic conditions that prevail in the world today.

Speak Triumph Capitalism World
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I chose America as my home because I value freedom and democracy, civil liberties and an open society.

Choose Home Value freedom Liberties
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A full and fair discussion is essential to democracy

A full Fair Discussion Essential
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Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention, and I wouldn't underestimate the value of that. But they're not designed to take care of social needs.

Markets Designed Individuals Private needs
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Misconceptions play a prominent role in my view of the world.
Misconceptions Play Prominent role World
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Regulating and taxing marijuana would simultaneously save taxpayers billions of dollars in enforcement and incarceration costs, while providing many billions of dollars in revenue annually.

Regulating Taxpayers Enforcement Incarceration cost
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Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.

Globalization World Interdependent International politics
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The world is looking to us for leadership. We have provided it in the past; the main reason why anti-American feelings are so strong in the world today is that we are not providing it in the present.

World Looking to Leadership Past
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A global economy is characterized not only by the free movement of goods and services but, more important, by the free movement of ideas and of capital.

Global economy Free movement Goods Services
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The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.

Main enemy Open society Communist Capitalist
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It is much easier to put existing resources to better use, than to develop resources where they do not exist.
Much easier Existing resources Develop
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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.

Interest rate Low Conditions Asset bubbles
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I called gold the ultimate bubble, which means it may go higher. But it’s certainly not safe and it’s not going to last forever.

Called gold Ultimate bubble Higher Safe
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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.

Economic Science Objective Scientific
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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.

Sum up Skills Survival Operating
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The hardest thing to judge is what level of risk is safe
Hardest thing Judge Risk Safe
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Unfortunately, the more complex the system, the greater the room for error.

More complex System Greater Error
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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

Investment decision Scientific hypothesis
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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.

View Possible Financial Hypotheses
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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).

Concept General equilibrium Relevance Real world
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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.

Hurt me Success Return Childhood
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If we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one's conceptions and what one does about them. Life can be seen as a fertile fallacy.

Carry Argument Logical conclusion Life
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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.

Sell options Assuming risk Profitable business
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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

Contend Financial market Never reflect
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George Soros Quotes & Sayings