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Quote by George Soros

“The concept of a general equilibrium has no relevance to the real world (in other words, classical economics is an exercise in futility).”

Quote by George Soros

Book:The Alchemy of Finance: Reading the Mind of the Market

Work

The Alchemy of Finance: Reading the Mind of the Market

This book delves into the complexities of financial markets, analyzing the psychological aspects that influence market movements and investor decisions. It provides a unique perspective on the art of finance, combining theoretical concepts with practical applications. more

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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“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.”

Ifs Long Happens Hurt Fantasy Childhood Return Investing Financial Limitation Engaged Hurt Me Omnipotence Financial Markets

Book:The Alchemy of Finance: Reading the Mind of the Market

Source: The Alchemy of Finance: Reading the Mind of the Market

“If we carry this line of argument to its logical conclusion, the meaning of life consists of the flaws in one's conceptions and what one does about them. Life can be seen as a fertile fallacy.”

Ifs Doe Lines Argument Investing Conclusion Meaning Of Life Logical Flaws Conception Fallacy Fertile

Book:The Alchemy of Finance: Reading the Mind of the Market

Source: The Alchemy of Finance: Reading the Mind of the Market

“When you sell options, you get paid for assuming risk. That can be a profitable business, but it does not mix well with the risks inherent in a leveraged portfolio.”

Wells Doe Risk Paid Sells Assuming Investing Inherent Profitable Portfolios Profitable Business

Book:Soros on Soros: Staying Ahead of the Curve

Source: Soros on Soros: Staying Ahead of the Curve

“In the case of a meltdown, the regulatory authorities may find themselves obliged to step in to preserve the integrity of the system. It is in that light that the authorities have both a right and an obligation to supervise and regulate derivative instruments.”

May Light Steps Cases Integrity Authority Instruments Investing Obligation Preserves Obliged Derivatives Meltdowns

Book:Soros on Soros: Staying Ahead of the Curve

Source: Soros on Soros: Staying Ahead of the Curve

“We [at Soros Fund Management] use options and more exotic derivatives sparingly. We try to catch new trends early and in later stages we try to catch trend reversals. Therefore, we tend to stabilize rather than destabilize the market. We are not doing this as a public service. It is our style of making money.”

Trying Use Stage Style Management Investing Making Money Fund Trends Public Service Exotic Derivatives Reversal

Book:Soros on Soros: Staying Ahead of the Curve

Source: Soros on Soros: Staying Ahead of the Curve

“Every bubble consists of a trend that can be observed in the real world and a misconception relating to that trend. The two elements interact with each other in a reflexive manner.”

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Book:The crash of 2008 and what it means [electronic resource]: the new paradigm for financial markets

Source: The crash of 2008 and what it means [electronic resource]: the new paradigm for financial markets

“I am for maximum supervision and minimum regulation.”

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Book:Soros on Soros: Staying Ahead of the Curve

Source: Soros on Soros: Staying Ahead of the Curve

“Creative capitalism takes this interest in the fortunes of others and ties it to our interest in our own fortunes in ways that help advance both. This hybrid engine of self-interest and concern for others can serve a much wider circle of people than can be reached by self-interest or caring alone.”

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“I have drifted away from thinking about these philanthropic things. And it was only as the wealth got large enough and Melinda and I had talked about the view that wealth wasn't something that would be good to just pass to the children.”

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“(On being the world's richest man) I wish I wasn't ... There's nothing good that comes out of that. You get more visibility as a result of it.”

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