George Soros Quotes (1930-)

“We live in a global economy, but the political organization of our global society is woefully inadequate. We are bereft of the capacity to preserve peace and to counteract the excesses of the financial markets. Without these controls, the global economy, is liable to break down.”

“The collapse of the global marketplace would be a traumatic event with unimaginable consequences. Yet I find it easier to imagine than the continuation of the present regime.”

“Nationalism, far from being reversed, made further headway. The biggest and most frightening setback came in India, where a democratically elected Narendra Modi is creating a Hindu nationalist state, imposing punitive measures on Kashmir – a semi-autonomous Muslim region, and threatening to deprive millions of Muslims of their citizenship.”

“Nationalism, far from being reversed, made further headway. The biggest and most frightening setback came in India, where a democratically elected Narendra Modi is creating a Hindu nationalist state, imposing punitive measures on Kashmir – a semi-autonomous Muslim region, and threatening to deprive millions of Muslims of their citizenship.”

“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.”

“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.”

“Xi Jinping has done his best to dismantle Deng Xiaoping’s achievements. He brought the private companies established under Deng under the control of the CCP and undermined the dynamism that used to characterize them. Rather than letting private enterprise blossom, Xi Jinping introduced his own “China Dream” that can be summed up in two words: total control. That has had disastrous consequences. / In contrast to Deng, Xi Jinping is a true believer in Communism. Mao Zedong and Vladimir Lenin are his idols. At the celebration of the 100-year anniversary of the CCP he was dressed like Mao while the rest of the audience was wearing business suits.”

“I think he's a man of good intentions. I don't doubt it. But I think he's leading us in the wrong direction.”

“This will significantly weaken Modi’s stranglehold on India’s federal government and open the door to push for much-needed institutional reforms. I may be naive, but I expect a democratic revival in India.”

“It goes without saying that Saddam was a tyrant, and it is good to be rid of him. But in invading Iraq as we did, without a second UN resolution, we violated international law. By mistreating and even torturing prisoners, we violated the Geneva conventions. President Bush has boasted that we do not need a permission slip from the international community, but our disregard for international law has endangered our security, particularly the security of our troops.”

“I've learned many things from him, but perhaps the most significant is that 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.”

“Druckenmiller could see that Soros was right: Indeed, this was the man’s genius. Druckenmiller had done the analysis, understood the politics, and seen the trigger for the trade; but Soros was the one who sensed that this was the moment to go nuclear. When you knew you were right, there was no such thing as betting too much. You piled on as hard as possible.”

“Historically, most highly paid executives voted Republican. No more. ... George Soros was on the leading edge of this trend. Long before he became famous as one of the biggest Democratic donors in history, Soros was best known for getting rich by betting against national currencies, notably the English pound. Soros was considered such a rapacious and unethical practitioner of vulture capitalism that liberal economist Paul Krugman once accused him of intentionally trying to provoke currency crises in order to profit from them. Krugman no longer criticizes Soros, who has gone on to spend billions on behalf of liberal candidates and policy positions around the world.”

“The financier George Soros has come to the reflection: 'There are collective interests that don't find expression in market values'."”

“Four hundred seventy-three million to one. Those are the odds against George Soros compiling the investment record he did as manager of the Quantum Fund from 1968 through 1993. His investment record is the most unimpeachable refutation of the random walk hypothesis ever! ... History will probably remember Mr. Soros as the speculator who tilted against the Bank of England in 1992 (and freed the English people from recession). His billion dollar score is simply too compelling a story to overlook. Mr. Soros himself would probably like to be remembered as a great economist or even scientist. But I am going to remember him for something even more important, for which he does not receive the credit he deserves. He is someone who genuinely cares about the state of the human condition and tries to better it. His myriad and monumental philanthropical efforts will qualify him as one of history's great benefactors. ... He is a hands-on workaholic who materially impacts the quality of lives of people less fortunate than he. Now this, this is a sign of greatness.”

“All these countries [in East Asia] have spent 40 years trying to build up their economies and a moron like Soros comes along with a lot of money to speculate and ruin things.”

“Hungary was led to bankruptcy by a government of former communists pursuing liberal policy. This example strengthens the conviction that in fact there is no such thing as a liberal: a liberal is nothing more than a communist with a university degree. If we had taken their advice, right now Hungary would be in the intensive care ward, with the tubes of IMF and Brussels credit attached to every limb. And the fingers on the valves regulating the flow of credit would belong to George Soros. This is no exaggeration.”

“I discovered Karl Popper via [a] trader, perhaps the only one I have ever truly respected. ...I disagreed with his statements when it came to economics and philosophy... [H]is first book, The Alchemy of Finance... does not show much grasp of the concepts. ...One cannot infer much from a single experiment in a random environment... [H]e writes that the category... "economists" believe that things converge to equilibrium... There are plenty of economic theories that believe that departure from a price level can cause further divergence and cause cascading feedback loops. ...say, game theory (...Harsanyi and Nash) or information economics (...Stiglitz, Akerhof, and Spence).”