George Soros Quotes

My main concern is with the world order

My peculiarity is that I don't have a particular style of investing or, more exactly, I try to change my style to fit the conditions.

At present, the developed countries condescend to the developing ones.

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don't have much personal use for money. But I hate to think what would have happened if I hadn't made money: My ideas would not have gotten much play.

The prevailing wisdom is that markets are always right. I take the opposition position. I assume that markets are always wrong. Even if my assumption is occasionally wrong, I use it as a working hypothesis. It does not follow that one should always go against the prevailing trend. On the contrary, most of the time the trend prevails; only occasionally are the errors corrected. It is only on those occasions that one should go against the trend. This line of reasoning leads me to look for the flaw in every investment thesis. ... I am ahead of the curve. I watch out for telltale signs that a trend may be exhausted. Then I disengage from the herd and look for a different investment thesis. Or, if I think the trend has been carried to excess, I may probe going against it. Most of the time we are punished if we go against the trend. Only at an inflection point are we rewarded.

Economic theory is devoted to the study of equilibrium positions. The concept of equilibrium is very useful. It allows us to focus on the final outcome rather than the process that leads up to it. But the concept is also very deceptive. It has the aura of something empirical: since the adjustment process is supposed to lead to an equilibrium, an equilibrium position seems somehow implicit in our observations. That is not true. Equilibrium itself has rarely been observed in real life — market prices have a notorious habit of fluctuating.

Perhaps you were too idealistic.
I admit it. But I don't believe I overestimate the importance of ideals. Only when people believe in something can they move the world. The
trouble is that people simply don't believe in open society as a goal worth fighting for.

Az adott társadalmi szituációk résztvevőiként mindannyiunknak rendelkeznünk kell bizonyos nézetekkel, amelyek alapján cselekszünk. De milyen alapon cselekedjünk, amennyiben elfogadjuk, hogy nézeteink nagy valószínűséggel tévesek, de legalábbis a valóság hiányos vetületei. A válasz ugyanaz, mint amit Popper adott a tudományos módszerre: nézeteinket átmeneti igazságokként kell kezelni, és közben biztosítani kell az állandó felülvizsgálatot. Ez a nyílt társadalom alaptétele.

It's more difficult, you know, to bring about positive change than it is to make money. It's much easier to make money, because it's a much easier way to measure success — the bottom line. 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. Why not use an entrepreneurial, rather than a bureaucratic, approach. As long as people genuinely care for the people they're trying to help, they can actually do a lot of good.

How do you see your own Jewish identity?
I am proud of being a Jew-although I must admit it took me practically a lifetime to get there. I have suffered from the low self-esteem that is the bane of the assimilationist Jew.
This is a heavy load that I could shed only when I recognized my success.
I identify being a Jew with being in a minority. I believe that there is such a thing as a Jewish genius; one need only look at the Jewish achievements in science, in economic life, or in the arts. These were the results of Jews' efforts to transcend their minority status, and to achieve something universal. Jews have learned to consider every question from many different viewpoints, even the most contradictory ones. Being in the minority, they are practically forced into critical thinking. If there is anything of this Jewish genius in me, it is simply the ability to think critically. To that extent, Jewishness is an essential element of my personality and, as I said, I am very proud of that.

It is dangerous to build systemic reforms on a close association with one particular government. Systemic reforms need broad public participation and support. That is what makes them irreversible.

The main obstacle to further progress on the resource curse is China, and to a lesser extent India.

"Everybody says that I have a lot of power. But what does that power consist of?... Can I influence governments? I am beginning to be able to..." (1995)

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.