It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.
Investors
George Soros
George Soros survived Nazi-occupied Hungary, studied under Karl Popper, and built Quantum Fund into a premier hedge fund. He netted $1B shorting the pound in 1992 and has given over $32B to philanthropic causes.
View this figure's profile
George Soros's Other Quotes
I'm only rich because I know when I'm wrong.
Once we realize that imperfect understanding is the human condition, there is no shame in being wrong, only in failing to correct our mistakes.
Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.
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.
Related Quotes
Know what you own, and know why you own it.
-- Peter Lynch
Invest in what you know.
-- Peter Lynch
In this business, if you're good, you're right six times out of ten. You're never going to be right nine times out of ten.
-- Peter Lynch
You can't predict. You can prepare.
-- Howard Marks
The most important thing is being attentive to cycles.
-- Howard Marks
The most important investment decision you will make is how to allocate your assets.
-- David F. Swensen