Four hundred seventy-three million to one. Those are the odds against George Soros compiling the investment record he did as manager of the Quantum Fund from 1968 through 1993. His investment record is the most unimpeachable refutation of the random walk hypothesis ever! ... History will probably remember Mr. Soros as the speculator who tilted against the Bank of England in 1992 (and freed the English people from recession). His billion dollar score is simply too compelling a story to overlook. Mr. Soros himself would probably like to be remembered as a great economist or even scientist. But I am going to remember him for something even more important, for which he does not receive the credit he deserves. he is someone who genuinely cares about the state of the human condition and tries to better it. His myriad and monumental philanthropical efforts will qualify him as one of history's great benefactors. ... He is a hands-on workaholic who materially impacts the quality of lives of people less fortunate than he. Now this, this is a sign of greatness.
About this quote
- What does it mean?
- Soros investment success defies random market theory. He is best remembered for humanitarian philanthropy rather than just finance.
- In plain terms
- His trading wins prove markets aren't random. His charity work matters most.
- What can you take from it?
- Real legacy comes from caring about people, not just wealth.
Where it applies
Putting it to work
Questions to consider
- What matters more: wealth or giving?
- How do we judge legacy?
Another view
Attributing specific historical impacts like freeing England from recession is debated.
More from George Soros
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 rig…
Permalink to quote #80 All these countries [in East Asia] have spent 40 years trying to build up their economies and a moron like Soros comes along with a lot of money to speculate a…
Permalink to quote #82 We have a booming global economy but we don't have a global society. Markets reduce everything, including human beings and nature, to commodities. Societies ne…
Permalink to quote #79
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