George Soros, Hungarian as Soros György, born Schwartz György

George
Soros, Hungarian as Soros György, born Schwartz György
1930

Hungarian-born American Fiancier, Businessman and Philanthropist, Chairman of Soros Fund Management

Author Quotes

The Bush administration is once again in the process of committing a major policy blunder in the Middle East... Hamas won the elections in an upset victory. Then came the blunder I am talking about. Israel, with the strong backing of the United States, refused to recognize the democratically elected Hamas government.

The prevailing wisdom is that markets are always right. I take the opposition position. I assume that markets are always wrong. Even if my assumption is occasionally wrong, I use it as a working hypothesis. It does not follow that one should always go against the prevailing trend. On the contrary, most of the time the trend prevails; only occasionally are the errors corrected. It is only on those occasions that one should go against the trend. This line of reasoning leads me to look for the flaw in every investment thesis. … I am ahead of the curve. I watch out for telltale signs that a trend may be exhausted. Then I disengage from the herd and look for a different investment thesis. Or, if I think the trend has been carried to excess, I may probe going against it. Most of the time we are punished if we go against the trend. Only at an inflection point are we rewarded.

This segment has considerable momentum and people are not ready to jump ship as long as prices are rising,

Well, you know, I was a human being before I became a businessman.

The conference is remarkable for its complacency -- it's a bit like dancing on the Titanic. They're having a very good time and there's a very cheerful atmosphere.

The pro-Israel lobby has been remarkably successful in suppressing criticism. Politicians challenge it at their peril because of the lobby's ability to influence political contributions... Following his criticism of repressive Israeli policy on the West Bank, former president Jimmy Carter has suffered the loss of some of the financial backers of his center.

This would enable the authority to set a ceiling on the amounts it is willing to insure,

When a long-term trend loses its momentum, short-term volatility tends to rise. It is easy to see why that should be so: the trend-following crowd is disoriented.

The criminalization of marijuana did not prevent marijuana from becoming the most widely used illegal substance in the United States and many other countries. But it did result in extensive costs and negative consequences.

The Republican Party has been captured by a bunch of extremists … People who maintain that markets will take care of everything, that you leave it to the markets and the markets know best. Therefore, you need no government, no interference with business. Let everybody pursue his own interests. And that will serve the common interest. Now, there is a good foundation for this. But it's a half-truth.

To my mind, there is a solution which has to do with democracy, because democratic governments are subject to the will of the people. So, if the people will it, you can actually create international institutions through the democratic states.

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.

The development of a global economy has not been matched by the development of a global society. The basic unit for political and social life remains the nation-state. International law and international institutions, insofar as they exist, are not strong enough to prevent war or the large-scale abuse of human rights in individual countries. Ecological threats are not adequately dealt with. Global financial markets are largely beyond the control of national or international authorities.

The supremacist ideology of the Bush Administration stands in opposition to the principles of an open society, which recognize that people have different views and that nobody is in possession of the ultimate truth. The supremacist ideology postulates that just because we are stronger than others, we know better and have right on our side. The very first sentence of the September 2002 National Security Strategy (the President's annual laying out to Congress of the country's security objectives) reads, The great struggles of the twentieth century between liberty and totalitarianism ended with a decisive victory for the forces of freedom and a single sustainable model for national success: freedom, democracy, and free enterprise. The assumptions behind this statement are false on two counts. First, there is no single sustainable model for national success. Second, the American model, which has indeed been successful, is not available to others, because our success depends greatly on our dominant position at the center of the global capitalist system, and we are not willing to yield it.

Unfortunately, the more complex the system, the greater the room for error.

When it comes to social consequences, they've got all different people acting in different ways, very difficult to even have a proper criterion of success. So, it's a difficult task.

The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market.

The trouble with you, Byron [Byron Wein – Morgan Stanley], is that you go to work every day [and think] you should do something. I don’t, I only go to work on the days that make sense to go to work. And I really do something on that day. But you go to work and you do something every day and you don’t realize when it’s a special day.

Up to those amounts the countries concerned would be able to access international capital markets at prime rates. Beyond these, the creditors would have to beware.

When you try to improve society…adverse consequences occur.

The global crisis is caused by pathologies inherent in the global financial system itself.

The truth is; successful investing is a kind of alchemy.

War and occupation create innocent victims. We count the body bags of American soldiers; there have been more than 1000 in Iraq. The rest of the world also looks at the Iraqis who get killed daily. There have been 15 times more. Some were trying to kill our soldiers; far too many were totally innocent, including many women and children. Every innocent death helps the terrorists' cause by stirring anger against America and bringing them potential recruits.

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.

The invasion of Afghanistan was justified: that was where Osama bin Laden lived and al Qaeda had its training camps. The invasion of Iraq was not similarly justified.

Author Picture
First Name
George
Last Name
Soros, Hungarian as Soros György, born Schwartz György
Birth Date
1930
Bio

Hungarian-born American Fiancier, Businessman and Philanthropist, Chairman of Soros Fund Management