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
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.
America felt victorious and generous after World War II. They had also learned from the mistakes after World War I when they imposed punishment on Germany. What became of Germany? A Nazi dictatorship which threatened the world. Today's Germany doesn't feel as prosperous and generous as America then. But actually, Germany still is very prosperous.
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.
I'm not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.
I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.
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.
To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride.
Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.
No, because I've got the same courts that found me guilty in the first place.
I'm very worried about the supply-demand balance, which is very tight.
It will require, I think, the release of funds and perhaps even an increased package to bring stability, ... Everything that could have been done wrong has been done wrong.
Up to those amounts the countries concerned would be able to access international capital markets at prime rates. Beyond these, the creditors would have to beware.
As the housing boom cools off, there will be a shortfall in demand (which will) affect the global economy.
This asymmetry in the treatment of lenders and borrowers is a major source of instability in the global capitalist system and it needs to be corrected,