The assumption of perfect knowledge is very far from reality ... a lot of the evil in the world is actually not intentional.

You could adjust the punishment to fit the infraction. Even a small fine would be enough to bring an errant government to heel.

I'm only rich because I know when I'm wrong...I basically have survived by recognizing my mistakes.

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.

Outperforming the market with low volatility on a consistent basis is an impossibility. I outperformed the market for 30-odd years, but not with low volatility.

Studying economics is not a good preparation for dealing with it.

I call government that works the best for people open society, which is basically just another more general term for a democracy that is - you call it maybe a liberal democracy. It's not only majority rule but also respect for minorities and minority opinions and the rule of law. So it's really a sort of institutional democracy.