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
Market fundamentalists recognize that the role of the state in the economy is always disruptive, inefficient, and generally has negative connotations. This leads them to believe that the market mechanism can take care of all the problems.
The financial markets play an active role in determining what's going to happen, how the economy is going to function.
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.
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.
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.
Markets are constantly in a state of uncertainty and flux and money is make by discounting the obvious and betting on the unexpected.
I think that it will lead to reforms and I am sure that the region will recover because it has tremendous energy,
I think they got the facts wrong. There was no case of insider trading.
I think the whole idea of eradicating the drug problem is a false idea, ... You can discourage the use of drugs, you can forbid the use of drugs, you can treat people who are addicted to drugs, but you cannot eradicate drugs. Once you accept this point, you may be able to develop a more rational approach to the problem.
I think I lost my touch some time ago. I'm like an aging boxer that should not go into the ring,
The absurdity of its illegality has been clear to me for some time. I learned about pot from my kids and realized it was a lot better than Scotch, and I loved the Scotch. Then I went to my doctor, and he said, 'I'm thrilled. You're drinking too much. You're much better off doing pot than drinking.'
Most of the capital (in Indonesia) is in the hands of limited business groups, which don't feel so secure here. Any slightest risk will cause them take their money to Singapore.
Over half of all AIDS cases involving children are directly related to unclean syringes,
We have come to realize that a large hedge fund like Quantum Fund is no longer the best way to manage money, ... Markets have become extremely unstable and historical measures of value at risk no longer apply.