George Soros, Hon FBA is a Hungarian-American investor, philanthropist, and activist whose success as an investor made him one of the wealthiest men in the world. Profoundly inspirational George Soros quotes will challenge the way you think, and help guide you through any life experience.
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Famous George Soros Quotes
I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
I chose America as my home because I value freedom and democracy, civil liberties, and an open society.
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.
It is much easier to put existing resources to better use than to develop resources where they do not exist.
The world order needs a major overhaul.
Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
I see tremendous imbalance in the world. A very uneven playing field, which has gotten tilted very badly. I consider it unstable. At the same time, I don’t exactly see what is going to reverse it.
Unrestrained competition can drive people into actions that they would otherwise regret.
When it comes to social consequences, they’ve got all different people acting in different ways, very difficult to even have a proper criterion of success. So, it’s a difficult task.
The worse a situation becomes, the less it takes to turn it around, the bigger the upside.
Increase your bets when you are confident and scale down your positions when you don’t have conviction.
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.
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.
American supremacy is the greatest threat to the world today.
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.
I’m not doing my philanthropic work, out of any kind of guilt, or any need to create good public relations. I’m doing it because I can afford to do it, and I believe in it.
I’m only rich because I know when I’m wrong.
Inspirational George Soros Quotes
The main obstacle to a stable and just world order is the United States.
Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
Well, you know, I was a human being before I became a businessman.
When money is free, the rational lender will keep on lending until there is no one else to lend to.
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.
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.
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.
Proposition 19 already is a winner, no matter what happens on election day. The mere fact of its being on the ballot has elevated and legitimized public discourse about marijuana and marijuana policy in ways I could not have imagined a year ago.
The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.
Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.
When I had made more money than I needed for myself and my family, I set up a foundation to promote the values and principles of a free and open society.
Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.
If the terrorists have the sympathy of people, it’s much harder to find them. So we need people on our side, and that leads us to be responsible leaders of the world, show some concern with the problems.
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.
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.
I think there’s a lot of merit in an international economy and global markets, but they’re not sufficient because markets don’t look after social needs.
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.
Increasingly, the Chinese will own a lot more of the world because they will be converting their dollar reserves and U.S. government bonds into real assets.
The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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.
Amazing George Soros Quotes
There is no point in being confident and having a small position.
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.
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.
In politics, manipulating reality can take precedence over finding reality.
There is a resurgence of anti-Semitism in Europe. The policies of the Bush administration and the Sharon administration contribute to that. It’s not specifically anti-Semitism, but it does manifest itself in anti-Semitism as well.
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.
Throughout the 19th century, when there was a laissez-faire mentality and insufficient regulation, you had one crisis after another. Each crisis brought about some reform. That is how central banking developed.
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.
The hardest thing to judge is what level of risk is safe.
If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.
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.
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.
The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.
My foundations support people in the country who care about an open society. It’s their work that I’m supporting. So it’s not me doing it. But I can empower them. I can support them, and I can help them.
The sovereignty of states must be subordinated to international law and international institutions.
Now that I have called you on your false accusation, you are using additional smear tactics.
It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.
A full and fair discussion is essential to democracy.
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.
I would prefer not to be involved in party politics.
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.
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.