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.
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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.
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