George Soros Quotes
The prevailing wisdom is that markets are always right. I take the opposition position. I assume that markets are always wrong… 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.
George Soros, Financier & Philanthropist Soros on Soros : Staying Ahead of the Curve, 1995
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Speculation meant real estate investment and business.
He distressed most of the other stock brokers on Wall Street by pointing out that if brokers were so smart, why would they not want to buy the stock for themselves rather than sell it to you. Therefore, he generally concluded that the best stocks are bought by the brokers and bankers for their own accounts, and the lesser quality shares are sold to the public.
This quotation illustrates a scientific principle that is at the heart of several political issues. Specifically the debate over whether creationism should be taught in science classes along with evolution. The major reason that almost all serious scientists (religious and secular both) oppose teaching creationism is that it is not a “falsifiable” set of statements—that is there is no way to prove it or disprove it. There are scientific statements that can be proved or disproved but have not yet been so. To be a scientific statement, it must be falsifiable—logically provable or disprovable. And this is the logic which the Federal Courts have used in ruling that creationism may not be taught in science classes in public schools. This quotation, Pauli is saying that the paper is not falsifiable—it cannot be proved and cannot be refuted. As such it is not scientific and belongs in the realm of philosophy, literature, theology, or other disciplines, but not science. An example of non-falsifiable statements are: “Blue is the most attractive color.”; “Freedom is essential to capitalism”; “Monarchy is more efficient than theocracy”.
When the Meltdown hit America, the crisis drew attention to the fiscal solvency and stability of banks in most of the world. The Irish banks were much more overextended than those of most counties and when that came to light there was a bank panic in Ireland. Ahern and the Irish Dail (parliament) decided to bail out the Irish bank at a very great cost to the rest of the Irish economy and people. He believed if Lehman Brothers had been bailed out, as America did with other institutions, the Irish bank bubble would not have burst. It is not known whether he actually meant to use the word “testicles” or he made a gaff intending to use the word “tentacles”. Both have relevant meaning in the situation with a significant shade of difference in meaning between the two.
While that has been true, too often in history the correction took a long time coming and when the bubble finally burst, the pain and economic suffering that has occurred as a result has dislocated most of the country for years.
George Soros, HonFBA is a Hungarian-born American billionaire investor and philanthropist. As of March 2021, he had a net worth of US$8.6 billion, having donated more than $32 billion to the Open Society Foundations, of which $15 billion have already been distributed, representing 64% of his original fortune, making him the "most generous giver" (in terms of percentage of net worth) according to Forbes.
