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Quote by George Soros

“It is better to have a cat and mouse game where the cat has the upper hand than a cat and mouse game where the mice are ruling. Because the latter means that the market participants are given free range. That was actually the big misconception of our national hero Ronald Reagan, who always talked about the magic of the market.”

Quote by George Soros

Author

George Soros, born on August 12, 1930, is a renowned business magnate and philanthropist. He has significant influence in the global financial markets and is known for his unique investment strategies and philosophy. In the 1970s, Soros founded the Quantum Fund, which achieved substantial wealth growth over the following decades. Apart from his success in business, Soros is committed to promoting global democracy and open societies, supporting various educational and charitable projects through the Soros Foundation. more

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“However, you have to recognize that regulations will never be completely successful and they will always be full of holes. You must constantly be ready to fill new holes. Actually regulation should be kept to a minimum, but there has to be some cooperation between market participants and authorities - as was the case in the early postwar years. The Bank of England was a very successful regulator by cooperating with market participants. This cooperative spirit was broken by the market fundamentalists.”

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“There is risk and truth to yourselves and the world before you.”

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“Any central bank should only be in charge of liquidity. Solvency is a matter for the treasury.”

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“These public-private partnerships are very, very dangerous. The most rotten part of the financial system in the US consisted of the government sponsored entities, Fannie Mae and Freddie Mac. They really kicked off this crisis. The state should set the rules and enforce them - but not become involved as a market player.”

Should States Government Player Dangerous Involved Crisis Financial Partnership Entity Rotten Financial System Private Parts

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“There is a well-established conviction that the central banks always do what is necessary to keep the system going and then afterwards you then take care of the legal aspects. In a crisis, you simply do not have time to think about such concerns for too long.”

Thinking Wells Long Care Concern Aspect Crisis Conviction Take Care Time To Think Central Banks

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“Hedge funds are a very efficient way of managing money. But there are clearly some risks. Hedge funds use credit and credit is a source of instability. Transactions involving credit should be regulated.”

Way Should Use Risk Source Credit Fund Efficient Involving Transactions Instability Hedge Fund

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“There is very little difference between speculation and investment. The only difference is basically that investments are successful speculations because if you successfully anticipate the future you make a speculative profit.”

Ifs Littles Differences Successful Investment Profit Speculation Anticipate

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Source: The Tragedy of the European Union: Disintegration or Revival?

“Sometimes time actually works against you if you refuse to face the relevant issues and explain to the public what is at stake.”

Ifs Sometimes Faces Issues Refuse Stakes Relevant

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“Giving government aid to a bank basically transforms it into a utility. The huge salaries in this sector are only a symptom of a more profound misalignment. The profitability of the finance industry has been excessive. [...] That was absurd.”

Giving Has Beens Government Huge Industry Profound Aids Absurd Finance Symptoms Salary Utility Profitability Government Aid

Author:George Soros

“What works for Germany can't work for the rest of Europe: No country can run a chronic surplus without others running deficits.”

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Author:George Soros