George Soros Quotes
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I'm only rich because I know when I'm wrong.
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I fancied myself as some kind of god or an economic reformer like Keynes
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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.
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I think it is natural that every country has to take care of its interests, but there are some interests that are common to all countries. There are some human interests, or we need also international cooperation. We've sometimes confused it with dictation.
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The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.
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Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.
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I rely a great deal on animal instincts.
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The ultimate asset bubble is gold.
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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.
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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.
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Studying economics is not a good preparation for dealing with it.
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I am against market fundamentalism. I think this propaganda that government involvement is always bad has been very successful - but also very harmful to our society.
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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.
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In 2012, the far-right Golden Dawn won 21 seats in Greece's parliamentary election, the right-wing Jobbik gained ground in my native Hungary, and the National Front's Marine Le Pen received strong backing in France's presidential election. Growing support for similar forces across Europe points to an inescapable conclusion: the continent's prolonged financial crisis is creating a crisis of values that is now threatening the European Union itself.
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We in the United States are very often - since we are a democracy and we have national interests, we've often made the mistake that a democracy has to adopt America's interests, and that is a contradiction because a democracy basically is people deciding what their interests are.
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Well, you know, I was a human being before I became a businessman.
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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.
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I'm not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
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Revolutions usually start with enthusiasm and end in tears.
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Once a trend is established it tends to persist and to run it’s full course.
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I'll tell you what I'd do if it were up to me: I would establish a strictly controlled distribution network through which I would make most drugs, excluding the most dangerous ones like crack, legally available. Initially I would keep the prices low enough to destroy the drug trade. Once that objective was attained I would keep raising the prices, very much like the excise duty on cigarettes, but I would make an exception for registered addicts in order to discourage crime. I would use a portion of the income for prevention and treatment. And I would foster social opprobrium of drug use.
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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
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I wish I could write a book that will be read for as long as our civilization lasts. I would value it much more highly than any business success if I could contribute to an understanding of the world in which we live or, better yet, if I could help to preserve the economic and political system that has allowed me to flourish as a participant.
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The reality is that financial markets are self-destabilizing; occasionally they tend toward disequilibrium, not equilibrium.
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Markets are imperfect. So you do need regulation, knowing that the regulators are also human.
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Market prices are always wrong.
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The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike.
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Playing by the rules, one does the best he can, irrespective of the social consequences. Whereas in making the rules, people ought to be concerned with the social consequences and not with their personal interests.
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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.
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You need a government that believes in government. It also believes in markets and wants to give markets the best, the greatest opportunity, but is trying to govern well.
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