Outperforming The Market With Low Volatility On

The Scope For Improvement Is Infinite, Precisely Because Perfection Is Unattainable.

Market Prices Are Always Wrong In The Sense That They Present A Biased View Of The Future.

We [at Soros Fund Management] Use Options And More Exotic Derivatives Sparingly. We Try To Catch New Trends Early And In Later Stages We Try To Catch Trend Reversals. Therefore, We Tend To Stabilize Rather Than Destabilize The Market. We Are Not Doing This As A Public Service. It Is Our Style Of Making Money.

Taking This View, It Is Possible To See Financial Markets As A Laboratory For Testing Hypotheses, Albeit Not Strictly Scientific Ones. The Truth Is, Successful Investing Is A Kind Of Alchemy.

The Ultimate Asset Bubble Is Gold.