I’ve learned many things from him [George Soros], but perhaps the most significant is that 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.
For 30 years I’ve been responsible for managing client money, and it’s been a joy, but at some point I need to move on. Thirty years is enough
The way to build long-term returns is through preservation of capital and home runs.
I think ageing demographics is a bigger issue in China than people think. And the problems it creates should be become evident as early as 2016
Once you make a lot of money, it’s incredibly enjoyable to give it away. It’s a way to satisfy the soul.
Whenever I see a stock market explode, six to 12 months later you are in a full blown recovery.
I love being around kids. I couldn’t figure out why all these 70-year-olds wanted to hang out with me when I was 27. Now I understand, and I’m trying to steal their energy from them like they stole from me at the time.
Soros is the best loss taker I’ve ever seen. He doesn’t care whether he wins or loses on a trade. If a trade doesn’t work, he’s confident enough about his ability to win on other trades. There are a lot of shoes on the shelf; wear only the ones that fit. If you’re extremely confident, taking a loss doesn’t bother you.
I believe that good investors are successful not because of their IQ, but because they have an investing discipline. But, what is more disciplined than a machine? A well-researched machine can make many average investors redundant, leaving behind only the really good human investors with exceptional intuition and skill.