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
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
To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities. They really kicked off this crisis. The state should set the rules and enforce them but not become involved as a market player.
Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you're doomed to do poorly.
There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.
My approach works not by making valid predictions but by allowing me to correct false ones.
There is no point in being confident and having a small position.
Unfortunately, the more complex the system, the greater the room for error.
The integration of Europe was very much led by a Germany that was always willing to pay a little bit extra to reach a compromise that everybody accepted, because Germany was so eager to get European support for reunification. That was called the "farsighted vision," which created the European Union.
The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.
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.
Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
What works for Germany can't work for the rest of Europe: No country can run a chronic surplus without others running deficits.
The sovereignty of states must be subordinated to international law and international institutions.