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George Soros Quotes

George Soros

George Soros quotes: the Hungarian billionaire’s best quotes.

“As we make our way in the world our sense of self evolves.  The relationship between what we think we are and what we are in reality is the key to happiness – in other words, it provides the subjective meaning of life.”

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

“The worse a situation becomes, the less it takes to turn it around, and the bigger the upside.  This is true in life as well as in investing.”

“Only those who are successful in the competition are in a position to institute changes in the terms on which the competition is carried on.”

“I’m only rich because I know when I’m wrong.  I basically have survived by recognizing my mistakes.”

“To others, being wrong is a source of shame.  To me, recognizing my mistakes is a source of pride.”

“It is better to do it right than right away.”

“To be successful you need leisure.  You need time hanging heavily on your hands.”

“It is credit that matters, not money.  In other words, monetarism is a false ideology.”

“It’s more difficult, you know, to bring about positive change than it is to make money.  It’s much easier to make money, because it’s a much easier way to measure success – the bottom line.  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.  Why not use an entrepreneurial, rather than a bureaucratic, approach.  As long as people genuinely care for the people they’re trying to help, they can actually do a lot of good.”

“It is much easier to put existing resources to better use, than to develop resources where they do not exist.”

“Misconceptions play a prominent role in my view of the world.”

“We must be willing to adjust our principles in light of experience.  This requires a critical attitude.  We must recognize that no one is in possession of the ultimate truth.”

“Survive first and make money afterwards.”

“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.”

“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.”

“Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.”

“If investing is entertaining, if you’re having fun, you’re probably not making any money.  Good investing is boring.”

“The hardest thing to judge is what level of risk is safe.”

“It’s not whether you’re right or wrong, but how much money you make when you’re right and how much you lose when you’re wrong.”

“Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you’re doomed to do poorly.”

“Although we cannot rid ourselves of misconceptions, we can correct them when we become aware of them.”

“I developed a theory of salesmanship based on the principle that one must not on any account identify oneself with the merchandise one is selling.  Selling is a game where you score when you make a sale.  If you allow your ego to be involved, the customer can brush you off and you lose; but if you do not identify yourself with your work you will be able to redouble your efforts when you are rejected, and if you make a sale you come out the winner.”

“I very often used to get backaches due to the fact that I was wrong.  Whenever you are wrong you have to fight or take flight.  When I make the decision, the backache goes away.”

“If I had to sum up my practical skills, I would use one word: survival.”

“My caution may cost me dearly, but it will also ensure my survival.”

“The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don’t have much personal use for money.  But I hate to think what would have happened if I hadn’t made money: my ideas would not have gotten much play.”

“I was a human being before I became a businessman.”

“We need to maintain law and order.  We need to maintain peace in the world.  We need to protect the environment.  We need to have some degree of social justice, equality of opportunity.  The markets are not designed to take care of those needs.  That’s a political process.  And the market fundamentalists have managed to reduce providing those public goods.”

“One generation’s success in achieving material wealth gives it’s children the luxury of rejecting the work ethic.”

“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.”

“I give away something up to $500 million a year throughout the world promoting Open Society.  My foundations support people in the country who care about an open society.  It’s their work that I’m supporting.  So it’s not me doing it.”

“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.”

“A benefit of being successful was that I could afford the things I wanted, but I did not have extravagant tastes.  I always lived on a scale that was more modest than my financial resources.”

“I must be doing something right.”

Related: Bill Gates quotes.

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