I've learned many things from him, but perhaps the most significant is that it'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.
--
Stanley Druckenmiller as quoted in The New Market Wizards : Conversations with America's Top Traders (1994) by Jack D. Schwager, p. 207; part of this statement has sometimes been attributed directly to Soros: It'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. (as quoted in 500 of the Most Witty, Acerbic and Erudite Things Ever Said about Money (2002) edited by Philip Jenks)George Soros
We are not wrong, we are not wrong in what we are doing. If we are wrong, the Supreme Court of this nation is wrong. If we are wrong, the Constitution of the United States is wrong. And if we are wrong, God Almighty is wrong. If we are wrong, Jesus of Nazareth was merely a utopian dreamer that never came down to Earth. If we are wrong, justice is a lie, love has no meaning. And we are determined here in Montgomery to work and fight until "justice runs down like water, and righteousness like a mighty stream."
Martin Luther King
In like manner, if I let myself believe anything on insufficient evidence, there may be no great harm done by the mere belief; it may be true after all, or I may never have occasion to exhibit it in outward acts. But I cannot help doing this great wrong towards Man, that I make myself credulous. The danger to society is not merely that it should believe wrong things, though that is great enough; but that it should become credulous, and lose the habit of testing things and inquiring into them; for then it must sink back into savagery.
William Kingdon Clifford
When we buy new clothes not to keep ourselves warm but to look "well-dressed" we are not providing for any important need. We would not be sacrificing anything significant if we were to continue to wear our old clothes, and give the money to famine relief. By doing so, we would be preventing another person from starving. It follows from what I have said earlier that we ought to give money away, rather than spend it on clothes which we do not need to keep us warm. To do so is not charitable, or generous. Nor is it the kind of act which philosophers and theologians have called "supererogatory" - an act which it would be good to do, but not wrong not to do. On the contrary, we ought to give the money away, and it is wrong not to do so.
Peter Singer
As for The Mapp... I suspect it'll never get a US publication. It seemed to frighten US publishers. They don't seem to understand it.
That seems to point up a significant difference between Europeans and Americans:
A European says: I can't understand this, what's wrong with me? An American says: I can't understand this, what's wrong with him?
I make no suggestion that one side or other is right, but observation over many years leads me to believe it is true.Terry Pratchett
There are no checks and balances if the gov is wrong, if a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut, if he bets wrong, he loses, if the gov bets wrong, they just get bigger, they just appropriate more money, it's a bottomless pit, because they either get it from the tax payers or run it off a printing press.
Peter Schiff
Soros, George
Sosa, Mercedes
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