Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed … - George Soros
" "Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones. It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.
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About George Soros
George Soros, born György Schwartz on 12 August 1930) is a Hungarian-born American businessman, philanthropist, and political activist. He is the chairman of Soros Fund Management and the Open Society Foundations.
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Also Known As
Alternative Names:
György Soros
•
György Schwartz
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Additional quotes by George Soros
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.
Stock market bubbles don't grow out of thin air. They have a solid basis in reality — but reality as distorted by a misconception. Under normal conditions misconceptions are self-correcting, and the markets tend toward some kind of equilibrium. Occasionally, a misconception is reinforced by a trend prevailing in reality, and that is when a boom-bust process gets under way. Eventually the gap between reality and its false interpretation becomes unsustainable, and the bubble bursts.
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