George Soros Quotes

George Soros quotes will help us motivate ourselves financially

Many economists have become rich thanks to their financial skills and instincts. Among them is George Soros, founder and president of Soros Fund Management LLC. At the moment, the equity of this investor reaches 8,6 billion dollars, which places him among the XNUMX richest people in the world, according to Forbes. For this reason, it is possible that George Soros' phrases can be very useful and motivating. As for his philanthropic activities, they have been acclaimed. Instead, his political stances have repeatedly generated much controversy.

Within the global financial markets, Soros is one of the largest speculators, which is why he made his fortune. In 1992 he made a very famous bet against the British pound. Thanks to this risky move made more than a billion dollars in a single day. After this event he received the title of "the man who broke the Bank of England". The Quantum fund he founded had annual returns of 33% for more than thirty years. If you want to know the famous phrases of George Soros and know how he got rich, do not miss this article.

The 58 best phrases of George Soros

George Soros is one of the hundred richest people in the world

Great economists like George Soros have arrived at their position through hard research and investment work over many years. In that time, everyone has made mistakes from which they have learned and improved their techniques. Also, they have accumulated more and more wisdom over the years. Thus it is highly advisable to take into account what these prominent investors are saying. Next we are going to see a list of the 58 best phrases of George Soros:

  1. “I am not doing my philanthropic work out of any guilt or the need to create good public relations. I do it because I can afford to do it, and I believe in it. "
  2. “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 resulted in extensive costs and negative consequences. "
  3. “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 lead in protecting the common interests of humanity. "
  4. “There is a resurgence of anti-Semitism in Europe. The policies of the Bush administration and the Sharon administration contribute to that. It is not specifically anti-Semitism, but it also manifests itself in anti-Semitism. "
  5. “In my opinion, there is a solution that has to do with democracy, because democratic governments are subject to the will of the people. So if the people want it, they can create international institutions through democratic states. "
  6. “Financial markets are generally unpredictable. So you have to have different scenarios… The idea that you can actually predict what is going to happen contradicts my way of looking at the market. "
  7. "The worse a situation becomes, the less it takes to turn it around, the greater the advantage."
  8. "Once we realize that imperfect understanding is the human condition, there is no shame in being wrong, only in not correcting our mistakes."
  9. "Increasingly, the Chinese will own much more of the world because they will convert their dollar reserves and US government bonds into real assets."
  10. “I present a fairly general theory that financial markets are inherently unstable. That we really have a false image when we think about markets that tend to equilibrium. "
  11. "A full and fair discussion is essential for democracy."
  12. 'The law has become a business. Health care has become a business. Unfortunately, politics has also become a business. That really undermines society. "
  13. "Just as the process to repeal national alcohol prohibition began with individual states repealing their own prohibition laws, individual states must now take the lead in repealing marijuana prohibition laws."
  14. “Stock market bubbles don't grow out of nowhere. They have a solid foundation in reality, but reality is distorted by a misconception. "
  15. “If the terrorists have the sympathy of the people, it is much more difficult to find them. Therefore, we need people on our side, and that leads us to be responsible leaders of the world, to show some concern for problems. "
  16. "Regulation and taxation of marijuana would simultaneously save taxpayers billions of dollars in enforcement and incarceration costs, while providing many billions of dollars in annual revenue."
  17. “Much of the evil in the world is actually unintentional. A lot of people in the financial system did a lot of harm inadvertently. "
  18. “Throughout the XNUMXth century, when there was a laissez-faire mentality and insufficient regulation, there was one crisis after another. Each crisis brought about some reform. This is how central banking developed. "
  19. "Well, you know, I was a human being before I became a businessman."
  20. “We are the most powerful nation on earth. No external power, no terrorist organization can defeat us. But we can get caught in a quagmire. "
  21. "I chose the United States as my home because I value freedom and democracy, civil liberties and an open society."
  22. “The people currently in charge have forgotten the first principle of an open society, namely that we can be wrong and that there must be free discussion. That it is possible to oppose policies without being unpatriotic. "
  23. I see a tremendous imbalance in the world. A very uneven playing field, which has tilted very badly. I consider it unstable. At the same time, I don't see exactly what is going to reverse it. "
  24. “Market fundamentalists recognize that the role of the state in the economy is always disruptive, inefficient and generally has negative connotations. This leads them to believe that the market mechanism can solve all problems. "
  25. “My fundamentals support people in the country who care about an open society. It is your work that I am supporting. Then I'm not the one doing it. "
  26. "Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected."
  27. “The reality is that financial markets are destabilizing themselves; occasionally they tend toward imbalance, not equilibrium. "
  28. "Unbridled competition can lead people to actions they would otherwise regret."
  29. Who benefits the most from keeping marijuana illegal? The biggest beneficiaries are the major criminal organizations in Mexico and elsewhere that earn billions of dollars annually from this illicit trade, and who would quickly lose their competitive advantage if marijuana were a legal product. "
  30. 'Markets are designed to allow people to attend to their private needs and to seek profit. It really is a great invention and I would never underestimate the value of it. But they are not designed to meet social needs. "
  31. “When it comes to social consequences, they have all different people acting in different ways, very difficult to even have a proper criterion of success. So it is a difficult task. "
  32. "When I made more money than I needed for myself and my family, I established a foundation to promote the values ​​and principles of a free and open society."
  33. "An open society is a society that allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others."
  34. “I hardly knew the man's name… He really made me up. He needed me for his political purposes, so I am a figment of his imagination. "
  35. "So I think what needs to happen is that he needs to be removed from power."
  36. "I don't think you will see the Fed jump into interest rates."
  37. "I expect there to be a significant decline in US consumer spending by '07, and I don't see what will take its place, because it is as important as the engine of the world economy."
  38. "I give around 500 million a year around the world promoting the Open Society."
  39. "You are really doing the right thing for yourself because you are staying in power, and you are putting yourself in a position where you can rescue your cronies who are in financial distress, including your son, etc."
  40. “I think the whole idea of ​​eradicating the drug problem is a false idea,… You can discourage drug use, you can prohibit drug use, you can treat people who are addicted to drugs, but you cannot eradicate them. Once you accept this point, you can develop a more rational approach to the problem. "
  41. "More than half of all AIDS cases involving children are directly related to dirty needles."
  42. "If bubbles contain a misconception, as they always do, then it cannot be maintained forever."
  43. I think I lost my touch some time ago. I'm like an old boxer who shouldn't get in the ring. "
  44. 'The absurdity of its illegality has been clear to me for some time. I learned about marijuana from my kids and realized that it was so much better than the Scotch, and I loved the Scotch. Then I went to my doctor and he said: I'm excited. You are not drinking too much, you are much better off smoking marijuana than drinking. "
  45. "We have come to realize that a large hedge fund like the Quantum Fund is no longer the best way to manage money… The markets have become extremely volatile and historical measures of value at risk no longer apply."
  46. "You have the potential for a system-wide collapse if you have a slowdown in economic activity in the center, even as inflationary pressures increase… We are on the verge of that, yes."
  47. "But recently we have seen that financial markets sometimes move more like a wrecking ball, bringing down one economy after another."
  48. "As the housing boom cools, there will be a deficit in demand (affecting) the global economy."
  49. “Something is really broken in the international financial architecture. We are now in the twentieth month of financial crisis. However, this crisis was brewing, it was the most anticipated crisis in recent history. "
  50. “Up to these amounts, interested countries could access international capital markets at preferential rates. Beyond this, creditors would have to be careful. "
  51. Now, I haven't worked out the details, because I don't think it's for me to work out the details. It's for them to work out the details. "
  52. "There is a problem that I think is brewing, and that is the end of the housing boom in America and the ability of households to spend more than they earn because the value of their home is increasing."
  53. "This asymmetry in the treatment of lenders and borrowers is a major source of instability in the global capitalist system and needs to be corrected."
  54. "The goal is to provide the best possible management for my family and foundation assets that can also be attractive to other investors with similar goals, and to establish a structure that lasts beyond my lifetime."
  55. "I think it will require the release of funds and maybe even a bigger package to bring stability… Everything that could have been done wrong has been done wrong."
  56. "I am very concerned about the balance between supply and demand, which is very tight."
  57. “I really want to help people who are hurt. And if I do that, I feel like my money is well spent. "
  58. 'Germans tend to forget now that the euro was largely a Franco-German creation. No country has benefited more from the euro than Germany, both politically and economically. Therefore, what has happened as a result of the introduction of the euro is largely the responsibility of Germany. '

How did Soros get rich?

George Soros is the founder and president of Soros Fund Management LLC

Now that we have read the phrases of George Soros, we are going to explain a little about his trajectory to understand them better. After a tough childhood and youth during World War II, in which he helped his father to falsify documents for his fellow Hungarians during the Holocaust, George Soros began his studies in 1947 at the London School of Economics. There, his mentor and philosopher Karl Popper instilled in him the term 'open society', which represented the complete opposite of the dictators that he himself and his family had survived. In addition, this term is mentioned in some phrases of George Soros. Four years after finishing his degree, the Hungarian economist got a job in finance at the Bank of London.

In 1956, George Soros got a job as an arbitration operator at FM Mayer in New York, for which he moved to the United States. After several jobs as an analyst and operator in various Wall Street companies, the Hungarian managed to manage his first offshore fund, First Eagle Fund, in Arnold and S. Bleichroeder. Due to his success he was able to create a second fund which he called the Double Egale Fund.

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Years later, in 1973, Soros and Jim Rogers, his assistant, formed the company Soros Fund Management. Six years later and with the structure of a hedge fund, it was renamed the Quantum Fund. Since the inception of this fund, his return was 3,365% and he obtained a return of 47% during the SP500 index.

Quantum fund

At the rate that this new company was going, in 1981 its growth corresponded to 381 million dollars. Meanwhile, George Soros's value was estimated at more than $ XNUMX billion. The same year, when the Institutional Investor recognized the Hungarian as "the largest phone manager in the world", Jim Roger left the company. Also this type of titles make it advisable to read the phrases of George Soros. Four years later, in 1985, the Quantum Fund generated a return of 122% and in 1986 it exceeded $ 1,5 billion.

In 1989, Soros decided to recruit Stanely Druckenmiller to run the Quantum Fund. Looking ahead to 1993, it managed to generate an annual return of 40%. However, what propelled George Soros' fortune was the operation he carried out against the British pound in 1992. This movement generated him one billion dollars, apart from the profits he obtained from other operations on the stock market of Tokyo, the Italian lira and the Swedish crown. According to estimates, George Soros had earned in that same year around 650 million dollars. Subsequently, he began diversifying his investments by creating new funds belonging to Quantum.

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As you can see, the trajectory of this economist has been long and difficult. However, with perseverance and patience he has managed to be one of the hundred richest people in the world. I hope George Soros quotes have inspired and motivated you to follow your own financial journey. Knowing the biography of famous investors who have achieved financial freedom is one of the best options to convince ourselves that we can achieve it too. Also, with the help of your advice and reflections we have it a little easier.


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