The generally accepted theory is that financial markets tend towards equilibrium, and...discount the future correctly. I operate using a different theory, according to which financial markets cannot possibly discount the future correctly because the do not merely discount the future; they help to shape it.
George SorosThe prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.
George SorosThe laissez-faire argument relies on the same tacit appeal to perfection as does communism.
George Soros