The Imperfect World of George Soros

[Guest kumar]

The billionaire investor wants to understand what it means to live in a world that we cannot fully understand.

 

http://www.foreignpolicy.com/articles/2012/11/26/the_imperfect_world_of_george_soros?page=full

 

....Soros sees this boom-and-bust cycle as a real-world example of his theory, illustrating how flawed ideas shape events: "It was all due to a false dogma which postulated that financial markets tend towards equilibrium."

 

....What he's good at is knowing when he's wrong -- and cutting his losses. And knowing when he's right -- and doubling down.

 

...."Since the crisis, there is more recognition in the value of recognizing the role of imperfect knowledge,"

 

...."China has been the tremendous beneficiary of globalization and now is at the end of the road as far as the growth model they have employed....To increase consumption, you need to increase household incomes. But the economic slowdown is creating unemployment and people are scared, so their propensity to save increases. So all three segments are falling: exports, investment, and consumption." ....The result, Soros predicts, will be conflict and crisis.

 

...."Trying to understand the human predicament of being born into a world that exceeds our capacity to fully understand," he told me, "is what I am most interested in and most preoccupied with."

[pabraifan]

thank you