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.
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
Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.
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.
Once we realize that imperfect understanding is the human condition, there is no shame in being wrong, only in failing to correct our mistakes.
I'm only rich because I know when I'm wrong.
Related Quotes
You can't predict. You can prepare.
-- Howard Marks
Risk means more things can happen than will happen.
-- Howard Marks
An investor who has all the answers doesn't even understand the questions.
-- John Templeton
Markets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.
-- George Soros
On the stock exchange, anything is possible, including the opposite.
-- André Kostolany
Wind extinguishes a candle and energizes fire. Likewise with randomness, uncertainty, chaos: you want to use them, not hide from them.
-- Nassim Nicholas Taleb