George Soros
George Soros
George Sorosis a Hungarian-American business magnate, investor, philanthropist, political activist and author who is of Hungarian-Jewish ancestry and holds dual citizenship. He is chairman of Soros Fund Management. He is known as "The Man Who Broke the Bank of England" because of his short sale of US$10 billion worth of pounds, making him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis. Soros is one of the 30 richest people in the world...
NationalityHungarian
ProfessionEntrepreneur
Date of Birth12 August 1930
CityBudapest, Hungary
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.
Increase your bets when you are confident and scale down your positions when you don't have conviction.
It is much easier to put existing resources to better use, than to develop resources where they do not exist.
Stock market bubbles don't grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.
Democracy, by its very nature, can't be imposed on people. Democracy has to be the people deciding for themselves.
Studying economics is not a good preparation for dealing with it.
Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.
I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.
The hardest thing to judge is what level of risk is safe.
Of course, speculation will always make a crisis worse. If there is a weak point, it will expose it.
If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.
My sense of insecurity keeps me alert, always ready to correct my errors.
I don't panic. The same thing applies to me as to everybody else, so I'm given to euphoria and despair. And I would say that I basically have survived by recognizing my mistakes.
I'm only rich because I know when I'm wrong.