George Soros is an American billionaire investor and philanthropist who was born in Hungary.
Because of his $1 billion profit on a short sell of US$10 billion worth of pounds sterling during the 1992 Black Wednesday UK currency crisis, Soros is nicknamed as “The Man Who Broke the Bank of England.”
We’ve gathered a selection of George Soros’ most notable quotes for your benefit.
Best George Soros Quotes on Investing, Money & Trading
1. “If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.” ~ (George Soros).
2. “Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.” ~ (George Soros).
3. “I’m only rich because I know when I’m wrong.” ~ (George Soros).
4. “Short term volatility is greatest at turning points and diminishes as a trend becomes established.” ~ (George Soros).
5. “The hardest thing to judge is what level of risk is safe.” ~ (George Soros).
6. “If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.” ~ (George Soros).
7. “When a long-term trend loses it’s momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.” ~ (George Soros).
8. “Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited.” ~ (George Soros).
9. “The worse a situation becomes the less it takes to turn it around, the bigger the upside.” ~ (George Soros).
10. “There is no point in being confident and having a small position.” ~ (George Soros).
11. “Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.” ~ (George Soros).
12. “There is always a divergence between our perception and what actually exists.” ~ (George Soros).
13. “Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.” ~ (George Soros).
14. “The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.” ~ (George Soros).
15. “Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test.” ~ (George Soros).
16. “Whenever there is a conflict between universal principles and self-interest, self-interest is likely to prevail.” ~ (George Soros).
17. “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.” ~ (George Soros).
Top George Soros Quotes
18. “The main enemy of the open society, I believe, is no longer the communist but the capitalist threat.” ~ (George Soros).
19. “The strength of this country lies in the Declaration of Independence and the Bill of Rights and the freedom of speech and thought.” ~ (George Soros).
20. “Market prices are always wrong.” ~ (George Soros).
21. “My sense of insecurity keeps me alert, always ready to correct my errors.” ~ (George Soros).
22. “The main obstacle to a stable and just world order is the United States.” ~ (George Soros).
23. “If the bubbles contain a misconception, as they always do, then it can’t be maintained forever.” ~ (George Soros).
24. “I fancied myself as some kind of god or an economic reformer like Keynes.” ~ (George Soros).
25. “Taking this view, it is possible to see financial markets as a laboratory for testing hypotheses, albeit not strictly scientific ones. The truth is, successful investing is a kind of alchemy.” ~ (George Soros).
26. “Markets are designed to allow individuals to look after their private needs and to pursue profit. It’s really a great invention, and I wouldn’t underestimate the value of that. But they’re not designed to take care of social needs.” ~ (George Soros).
27. “Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test. The main difference is that the hypothesis that underlies an investment decision is intended to make money and not to establish a universally valid generalization.” ~ (George Soros).
28. “I rely a great deal on animal instincts.” ~ (George Soros).
29. “Every bubble has two components: something – some real trend, and a misconception about that trend.” ~ (George Soros).
30. “The scope for improvement is infinite, precisely because perfection is unattainable.” ~ (George Soros).
31. “However, even a strong government can’t perform miracles. It needs money from the taxpayers.” ~ (George Soros).
32. “A global economy is characterized not only by the free movement of goods and services but, more important, by the free movement of ideas and of capital.” ~ (George Soros).
33. “Now that I have called you on your false accusation, you are using additional smear tactics.” ~ (George Soros).
34. “My approach works not by making valid predictions but by allowing me to correct false ones.” ~ (George Soros).
35. “Of course, speculation will always make a crisis worse. If there is a weak point, it will expose it.” ~ (George Soros).
36. “Discount the obvious, bet on the unexpected.” ~ (George Soros).
37. “Find the trend whose premise is false, and bet against it.” ~ (George Soros).
38. “Markets can influence the events that they anticipate.” ~ (George Soros).
Famous George Soros Quotes
39. “Law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society.” ~ (George Soros).
40. “Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.” ~ (George Soros).
41. “Economics seeks to be a science. Science is supposed to be objective and it is difficult to be scientific when the subject matter, the participant in the economic process, lacks objectivity.” ~ (George Soros).
42. “No individual anonymous participant can influence the prices and therefore you really can speculate in the market without paying attention to morality. That’s one of the positive features of markets. That’s why they function.” ~ (George Soros).
43. “I don’t panic. The same thing applies to me as to everybody else, so I’m given to euphoria and despair. And I would say that I basically have survived by recognizing my mistakes.” ~ (George Soros).
44. “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.” ~ (George Soros).
45. “Unfortunately, the more complex the system, the greater the room for error.” ~ (George Soros).
46. “To be successful, you need leisure. You need time hanging heavily on your hands.” ~ (George Soros).
47. “Studying economics is not a good preparation for dealing with it.” ~ (George Soros).
48. “I’m not better than the next trader, just quicker at admitting my mistakes and moving on to the next opportunity.” ~ (George Soros).
49. “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.” ~ (George Soros).
50. “It is much easier to put existing resources to better use, than to develop resources where they do not exist.” ~ (George Soros).
Inspiring George Soros Quotes
51. “I put forward a pretty general theory that financial markets are intrinsically unstable. That we really have a false picture when we think about markets tending towards equilibrium.” ~ (George Soros).
52. “As a society we can’t live without moral considerations. We do have to protect the public good. And markets are not designed to do that, so we need a political process.” ~ (George Soros).
53. “My original intention was to spend the money in my lifetime.” ~ (George Soros).
54. “The more comprehensive and convincing a debt reduction program is, the less likely it is to fail. And remember, just as Germany is grateful to America for the Marshall Plan, Italy would be grateful to Germany for helping it lower its refinancing costs.” ~ (George Soros).
55. “I am for maximum supervision and minimum regulation.” ~ (George Soros).
56. “Globalization has rendered the world increasingly interdependent, but international politics is still based on the sovereignty of states.” ~ (George Soros).
57. “Market prices are always wrong in the sense that they present a biased view of the future.” ~ (George Soros).
58. “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” ~ (George Soros).
59. “If truth be known, I carried some rather potent messianic fantasies with me from childhood which I felt I had to control, otherwise I might end up in the loony bin. But when I made my way in the world I wanted to indulge myself in my fantasies to the extent that I could afford.” ~ (George Soros).
60. “The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.” ~ (George Soros).
61. “My conceptual framework, which basically emphasizes the importance of misconceptions, makes me extremely critical of my own decisions. I know that I am bound to be wrong, and therefore am more likely to correct my own mistakes.” ~ (George Soros).
62. “The eurozone status quo is neither tolerable nor stable. Mainstream economists would call it an inferior equilibrium; I call it a nightmare – one that is inflicting tremendous pain and suffering that could be easily avoided if the misconceptions and taboos that sustain it were dispelled.” ~ (George Soros).
George Soros Quotes for Motivation
63. “When I had made more money than I needed for myself and my family, I set up a foundation to promote the values and principles of a free and open society.” ~ (George Soros).
64. “Sometimes time actually works against you if you refuse to face the relevant issues and explain to the public what is at stake.” ~ (George Soros).
65. “The sovereignty of states must be subordinated to international law and international institutions.” ~ (George Soros).
66. “China could easily emerge as the great winner if the Chinese leaders handle the situation well. On the other hand, they could also turn out to be the biggest losers if they handle it poorly. If the management turns out to be wrong, this could lead to a political crisis in China.” ~ (George Soros).
67. “Increase your bets when you are confident and scale down your positions when you don’t have conviction.” ~ (George Soros).
68. “The financial markets play an active role in determining what’s going to happen, how the economy is going to function.” ~ (George Soros).
69. “An open society calls itself open to improvement. It is based on the recognition that people have divergent views and interests, and that nobody is in possession of the ultimate truth.” ~ (George Soros).
70. “The global crisis is caused by pathologies inherent in the global financial system itself.” ~ (George Soros).
71. “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.” ~ (George Soros).
72. “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.” ~ (George Soros).
73. “Democracy, by its very nature, can’t be imposed on people. Democracy has to be the people deciding for themselves.” ~ (George Soros).
74. “I think that my foundation uses the money better than the government does. In any event, I do pay taxes.” ~ (George Soros).
75. “The world order needs a major overhaul.” ~ (George Soros).
76. “We must recognize that as the dominant power in the world we have a special responsibility. In addition to protecting our national interests, we must take the leadership in protecting the common interests of humanity.” ~ (George Soros).
Short George Soros Quotes
77. “Revolutions usually start with enthusiasm and end in tears.” ~ (George Soros).
78. “American supremacy is the greatest threat to the world today.” ~ (George Soros).
79. “Playing by the rules, one does the best he can, irrespective of the social consequences. Whereas in making the rules, people ought to be concerned with the social consequences and not with their personal interests.” ~ (George Soros).
80. “Political debate is more interested in manipulating the truth, than finding the truth.” ~ (George Soros).
81. “In politics, manipulating reality can take precedence over finding reality.” ~ (George Soros).
82. “Mankind’s ability to understand and control the forces of nature greatly exceeds our ability to govern ourselves.” ~ (George Soros).
83. “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. They really kicked off this crisis. The state should set the rules and enforce them but not become involved as a market player.” ~ (George Soros).
84. “The key problem is the debt restructuring in the euro zone. As long as the debt burden is not reduced, there is no chance of the weaker EU countries regaining competitiveness.” ~ (George Soros).
85. “The bureaucratic method of building an integrated Europe has exhausted its potential.” ~ (George Soros).
86. “Fundamental analysis seeks to establish how underlying values are reflected in stock prices, whereas the theory of reflexivity shows how stock prices can influence underlying values.” ~ (George Soros).
87. “What works for Germany can’t work for the rest of Europe: No country can run a chronic surplus without others running deficits.” ~ (George Soros).
88. “There is no doubt that the countries that now have a very large debt have not introduced the kind of structural reforms that Germany did and are therefore at a disadvantage. But the problem is that this disadvantage is becoming even more pronounced through the punitive policies in place.” ~ (George Soros).
89. “Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the imagination of the German public, and the German public has accepted it.” ~ (George Soros).
90. “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.” ~ (George Soros).
91. “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 is absurd.” ~ (George Soros).
92. “I’m not doing my philanthropic work, out of any kind of guilt, or any need to create good public relations. I’m doing it because I can afford to do it, and I believe in it.” ~ (George Soros).
93. “Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.” ~ (George Soros).
94. “An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.” ~ (George Soros).
95. “I think it is natural that every country has to take care of its interests, but there are some interests that are common to all countries. There are some human interests, or we need also international cooperation. We’ve sometimes confused it with dictation.” ~ (George Soros).
96. “We must not forget; but we must forgive. Suffering often such compassion from the Jewish community. It was Jewish groups in the US who were in the forefront in opposing the ethnic cleansing of Muslim in Bosnia.” ~ (George Soros).
97. “Who most benefits from keeping marijuana illegal? The greatest beneficiaries are the major criminal organizations in Mexico and elsewhere that earn billions of dollars annually from this illicit trade – and who would rapidly lose their competitive advantage if marijuana were a legal commodity.” ~ (George Soros).
98. “Proposition 19 already is a winner no matter what happens on election day. The mere fact of its being on the ballot has elevated and legitimized public discourse about marijuana and marijuana policy in ways I could not have imagined a year ago.” ~ (George Soros).
99. “We can speak of the triumph of capitalism in the world, but we cannot yet speak about the triumph of democracy. There is a serious mismatch between the political and the economic conditions that prevail in the world today.” ~ (George Soros).
100. “One of the myths propagated by the enemies of Israel is that there is an all-powerful Zionist conspiracy. That is a false accusation. Nevertheless, that AIPAC has been so successful in suppressing criticism has lent some credence to such false beliefs.” ~ (George Soros).
101. “I called gold the ultimate bubble, which means it may go higher. But it’s certainly not safe and it’s not going to last forever.” ~ (George Soros).
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