The Hungarian-born financier will therefore no longer be able to move markets. But many of his aphorisms and apothegms will long continue to apply. Here are some of the best.
When I see a bubble forming I rush in to buy, adding fuel to the fire. That is not irrational.”Well, you know, I was a human being before I became a businessman.”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.”
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.”
Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.”
A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.”
Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.”
The worse a situation becomes the less it takes to turn it around, the bigger the upside.”
A lot of the evil in the world is actually not intentional. A lot of people in the financial system did a lot of damage without intending to.”Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.”
The worse a situation becomes the less it takes to turn it around, the bigger the upside.”