• The generally accepted view is that markets are always right -- that is, market prices tend to discount future developments accurately even when it is unclear what those developments are. I start with the opposite view. I believe the market prices are always wrong in the sense that they present a biased view of the future.

    George Soros (1994). “The Alchemy of Finance: Reading the Mind of the Market”, p.14, John Wiley & Sons
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