George Soros: Because I Know I’m Wrong

Posted by admin on Sunday, April 24, 2016

George Soros Money Quote saying errors in judgement, once recognized don’t need to stop you from becoming rich. George Soros said:
I'm only rich because I know when I'm wrong. I basically have survived by recognizing my mistakes Quote

“I’m only rich because I know when I’m wrong. I basically have survived by recognizing my mistakes” — George Soros


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In this quote, George Soros is attributing his great wealth and success as an investor to his ability to acknowledge when his views or decisions are mistaken. Soros suggests he has thrived financially by having the self-awareness and intellectual honesty to recognize his own errors.

Rather than stubbornly insisting he is always right, Soros implies he survives market setbacks by learning from past errors and changing course when evidence shows his analysis or bets are wrong. His perspective seems to be that wealth preservation and growth in the volatile world of finance requires flexibility, not arrogance, in one’s thinking.

By willingly admitting fallibility, Soros portrays himself as having survived and prospered long-term by avoiding the pitfalls of overconfidence and an unwillingness to re-evaluate positions proven incorrect by events.

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