George Soros Quotes

This is a list of my favorite George Soros quotes.

George Soros is an investor and philanthropist who was born on August 12, 1930 in Budapest, Hungary. His current net worth of 8.6 billion USD ranks him as the 288th richest man in the world according to recent information published by Forbes. However, Soros has donated over 18 billion USD to his Open Society Foundations as of 2018.

As an author, George Soros has written several books which includes The Alchemy of Finance, Soros on Soros: Staying Ahead of the Curve, George Soros on Globalization, The New Paradigm for Financial Markets: The Credit Crash of 2008 and What It Means, In Defence of Open Society: The Legendary Philanthropist Tackles the Dangers We Must Face for the Survival of Civilization, The Crisis of Global Capitalism: Open Society Endangered and so much more.

Here are some of the best and famous George Soros quotes on investing, trading, forex and money:

Famous George Soros Quotes

famous George Soros quotes

1. My main concern is with the world order. -George Soros

2. The world order needs a major overhaul. -George Soros

3. I’m only rich because I know when I’m wrong. -George Soros

4. Misconceptions play a prominent role in my view of the world. -George Soros

5. I chose America as my home because I value freedom and democracy, civil liberties and an open society. -George Soros

6. It is dangerous to build systemic reforms on a close association with one particular government. Systemic reforms need broad public participation and support. That is what makes them irreversible. -George Soros

7. Values are closely associated with with the concept of self – a reflexive concept if ever there was one. What we think has a much greater bearing on what we are than on the world around us. What we are cannot possibly correspond to what we think we are, but there is a two-way interplay between the two concepts. 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. -George Soros

8. I start from the position that every human endeavor is flawed: if we were to discard everything that is flawed there would be nothing left. We must therefore make the most of what we have; the alternative is to embrace death. The choice is a real one, because death can be embraced in a number of ways; the pursuit of perfection and eternity in all its manifestations is equivalent to choosing the idea of death over the idea of life. 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.

George Soros

9. The trouble is that people simply don’t believe in open society as a goal worth fighting for. -George Soros

10. It is much easier to put existing resources to better use, than to develop resources where they do not exist. -George Soros

11. 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

12. Scientific method seeks to understand things as they are, while alchemy seeks to bring about a desired state of affairs. To put it another way, the primary objective of science is truth, – that of alchemy, operational success. -George Soros

13. I wish I could write a book that will be read for as long as our civilization lasts… I would value it much more highly than any business success if I could contribute to an understanding of the world in which we live or, better yet, if I could help to preserve the economic and political system that has allowed me to flourish as a participant. -George Soros

14. In my view, philanthropy goes against the grain; therefore it generates a lot of hypocrisy and many paradoxes. Here are some examples: Philanthropy is supposed to be devoted to the benefit of others, but philanthropists are primarily concerned with their own benefit; philanthropy is supposed to help people, yet it often makes people dependent and turns them into objects of charity; applicants tell foundations what they want to hear, then proceed to do what the applicant wants to do. -George Soros

15. On the abstract level, I have turned the belief in my own fallibility into the cornerstone of an elaborate philosophy. On a personal level, I am a very critical person who looks for defects in myself as well as in others. But, being so critical, I am also quite forgiving. I couldn’t recognize my mistakes if I couldn’t forgive myself. To others, being wrong is a source of shame; to me, recognizing my mistakes is a source of pride. 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

George Soros Quotes On Investing

George Soros quotes on investing

16. If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring. -George Soros

17. My peculiarity is that I don’t have a particular style of investing or, more exactly, I try to change my style to fit the conditions. -George Soros

18. The fact that a thesis is flawed does not mean that we should not invest in it as long as other people believe in it and there is a large group of people left to be convinced. The point was made by John Maynard Keynes when he compared the stock market to a beauty contest where the winner is not the most beautiful contestant but the one whom the greatest number of people consider beautiful. Where I have something significant to add is in pointing out that it pays to look for the flaws; if we find them, we are ahead of the game because we can limit our losses when the market also discovers what we already know. It is when we are unaware of what could go wrong that we have to worry.

George Soros

19. 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. -George Soros

20. 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. -George Soros

George Soros Quotes On Money

George Soros quotes on money

21. In economics, contingent, time- and context-bound theories may yield more useful explanations and predictions than timeless and universal generalizations based on ungrounded assumptions. -George Soros

22. 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.

George Soros

23. 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. -George Soros

George Soros Quotes On Trading And Forex

George Soros quotes on trading forex

24. Unfortunately, the more complex the system, the greater the room for error. -George Soros

25. Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected. -George Soros

26. 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 markets. -George Soros

27. There is a powerful case for the market mechanism, but it is not that markets are perfect; it is that in a world dominated by imperfect understanding, markets provide an efficient feedback mechanism for evaluating the results of one’s decisions and correcting mistakes. -George Soros

28. 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.

George Soros

29. 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. -George Soros

30. How good are markets in predicting real-world developments? Reading the record, it is striking how many calamities that I anticipated did not in fact materialize. Financial markets constantly anticipate events, both on the positive and on the negative side, which fail to materialize exactly because they have been anticipated. It is an old joke that the stock market has predicted seven of the last two recessions. Markets are often wrong. -George Soros

31. Classical economic theory assumes that market participants act on the basis of perfect knowledge. That assumption is false. The participants’ perceptions influence the market in which they participate, but the market action also influences the participants’ perceptions. They cannot obtain perfect knowledge of the market because their thinking is always affecting the market and the market is affecting their thinking. This makes analysis of market behavior much harder than it would be if the assumption of perfect knowledge were valid. -George Soros

32. Economic theory is devoted to the study of equilibrium positions. The concept of equilibrium is very useful. It allows us to focus on the final outcome rather than the process that leads up to it. But the concept is also very deceptive. It has the aura of something empirical: since the adjustment process is supposed to lead to an equilibrium, an equilibrium position seems somehow implicit in our observations. That is not true. Equilibrium itself has rarely been observed in real life — market prices have a notorious habit of fluctuating. -George Soros

33. 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. -George Soros

George Soros Bubble Quotes

George Soros bubble quotes

34. Every bubble has two components: something – some real trend, and a misconception about that trend. -George Soros

35. 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

36. When I see a bubble forming, I rush to buy, adding fuel to the fire.

George Soros

37. If the bubbles contain a misconception, as they always do, then it can’t be maintained forever. -George Soros

38. 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