Quotes From George Soros | Business Magnate & Philanthropist

*This is a compilation of quotes sourced from the internet.

George Soros is a Hungarian-born American business magnate, investor, and philanthropist. He is the chairman of Soros Fund Management. He is known as “The Man Who Broke the Bank of England” because of his short sale of US$10 billion worth of pounds, giving him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis. Soros is one of the thirty richest people in the world.

556_1george_soros_1008__033_bw2_scalerprepOn Failure | Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.

On Philanthropic Work | I’m not doing my philanthropic work, out of any kind of guilt, or any need to create good public relations. I’m doing it because I can afford to do it, and I believe in it.

On Marijuana | Regulating and taxing marijuana would simultaneously save taxpayers billions of dollars in enforcement and incarceration costs, while providing many billions of dollars in revenue annually.

On An Open Society | An open society is a society which allows its members the greatest possible degree of freedom in pursuing their interests compatible with the interests of others.

george-soros-europes-nightmare-is-getting-worse-and-only-germany-can-make-it-stopOn Markets | Markets are designed to allow individuals to look after their private needs and to pursue profit. It’s really a great invention and I wouldn’t under-estimate the value of that, but they’re not designed to take care of social needs.

On Being Rich | I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.

On Why Poverty Exists | Most of the poverty and misery in the world is due to bad government, lack of democracy, weak states, internal strife, and so on.

On Choosing America As My Home | I chose America as my home because I value freedom and democracy, civil liberties and an open society.

On Practical Skills | If I had to sum up my practical skills, I would use one word: survival. And operating a hedge fund utilized my training in survival to the fullest.

cq5dam.web.1280.1280On Making Investment Decisions | Making an investment decision is like formulating a scientific hypothesis and submitting it to a practical test. The main difference is that the hypothesis that underlies an investment decision is intended to make money and not to establish a universally valid generalization.

On The World Order | My main concern is with the world order, the world order needs a major overhaul.