George Soros ~ Quote of the Week ~ market folly

Monday, September 20, 2010

George Soros ~ Quote of the Week

Market Folly's quote of the week this time around comes from the founder of the legendary Quantum Fund, George Soros:

"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."
~ George Soros

The global macro aficionado's quotation quickly brings to mind the old adages of, "let your winners run" and "cut your loses quickly." He hints that some of the best attributes of successful traders/investors are those who can recognize their winners and losers. It doesn't matter if you're "wrong." Everyone has been wrong before. Successful traders and investors recognize when they've made a mistake, admit their error, swallow their pride, and cut their losses quickly.

George Soros' portfolio is profiled in our brand new quarterly newsletter: hedge fund wisdom by market folly. You can also check out his insight in his book, The Alchemy of Finance.

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