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George Soros

George Soros Quotes

Business magnate

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Famous George Soros Quotes

“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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“In certain circumstances, financial markets can affect the so-called fundamentals which they are supposed to reflect. When that happens, markets enter into a state of dynamic disequilibrium and behave quite differently from what would be considered normal by the theory of efficient markets. Such boom/bust sequences do not arise very often, but when they do, they can be very disruptive, exactly because they affect the fundamentals of the economy.”

StatesHappensWould BeCertainEconomyTheoryCircumstancesNormalFundamentalsFinancialAriseBehaveEfficientSequenceDisruptiveFinancial MarketsEfficient MarketsDisequilibrium
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“Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.”

HumansUnderstandingRealizingMistakeFailingConditionsFailureSelf ImprovementShameInvestingFinancialImperfectHuman ConditionMy MistakesBeing WrongPast MistakesFear Of FailingI've Made MistakesEverybody Makes MistakesHuman Imperfection
Book:Soros on Soros: Staying Ahead of the Curve
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“I contend that financial markets never reflect the underlying reality accurately; they always distort it in some way or another and the distortions find expression in market prices. Those distortions can, occasionally, find ways to affect the fundamentals that market prices are supposed to reflect.”

WayRealityExpressionFundamentalsInvestingFinancialDistortionFinancial Markets
Book:The Crash of 2008 and What it Means: The New Paradigm for Financial Markets
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“The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike.”

FactsProblemInterestRiskCreatingFinancialIncomeAgentsAgencyDimensionsEngineersIgnoredReducingMortgageParticipantsFeesDiversificationRegulatorsFinancial Risk
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“The only thing that could hurt me is if my success encouraged me to return to my childhood fantasies of omnipotence - but that is not likely to happen as long as I remain engaged in the financial markets, because they constantly remind me of my limitations.”

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Book:The Alchemy of Finance: Reading the Mind of the Market
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“Although I have made a fortune in the financial markets, I now fear that the untrammeled intensification of laissez-faire capitalism and the spread of market values into all areas of life is endangering our open and democratic society. The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.”

BelieveMadeLife IsValuesI BelieveEnemySocietyCapitalismAreasThreatFortuneDemocraticFinancialSpreadCommunistCapitalistDemocratic SocietyLaissez FaireFinancial MarketsLaissez Faire Capitalism
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“In 2012, the far-right Golden Dawn won 21 seats in Greece's parliamentary election, the right-wing Jobbik gained ground in my native Hungary, and the National Front's Marine Le Pen received strong backing in France's presidential election. Growing support for similar forces across Europe points to an inescapable conclusion: the continent's prolonged financial crisis is creating a crisis of values that is now threatening the European Union itself.”

ValuesStrongForceMoneySupportGrowingFrontsCreatingEuropeElectionCrisisWingsUnionsFinancialGoldenConclusionFranceDawnPresidentialSeatsNativePensContinentsThreateningMarineGreeceRight WingEuropean UnionFinancial CrisisPresidential ElectionParliamentaryHungary
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