Founder of Soros Fund Management
Hungarian-American ยท Born 1930
โGeorge Soros. I broke the Bank of England in 1992, built Soros Fund Management into one of the most successful hedge funds in history, and developed the theory of reflexivity. Markets don't just reflect reality โ they shape it. Boom-bust cycles are not anomalies, they are the natural state of financial markets. Understanding this feedback loop is the closest thing to an edge that exists.โ
Markets don't just reflect reality โ they shape it. This is reflexivity. Boom-bust cycles are not anomalies โ they are the natural state of financial markets. The key is to identify the false premises that drive bubbles and position accordingly.
โMarkets are constantly in a state of uncertainty and flux, and money is made by discounting the obvious and betting on the unexpected.
โIt's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong.
โI'm only rich because I know when I'm wrong.
Soros's reflexivity theory explains why the Convergence Thesis can become self-fulfilling: as more capital flows in, the machine economy accelerates, attracting more capital.
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