Soros, ignorant in economic theory?
- Thread starter Daal
- Start date
Interesting to note that Soros didn't take an economics degree at LSE. He studied Philosophy.
"Alchemy of Finance," should be read to understand how a very (very) successful investor thinks. The complexity of his analysis (or even its simplicity) should be studied. The same can be said for his thought processes.
If you really are interested to begin to understand Soros, read Karl Popper, then Hume, then Kant, then Plato, etc..
Unfortunately most people judge Soros and his work as if they won't in turn be judged. The genius of Soros is in his honesty. I don't know of many investors at his level who have published anything close in value.
"It is the mark of an educated mind TO BE ABLE TO entertain a thought without accepting it"
-Aristotle
Most of us are UNABLE to even entertain...
If you really are interested to begin to understand Soros, read Karl Popper, then Hume, then Kant, then Plato, etc..
Unfortunately most people judge Soros and his work as if they won't in turn be judged. The genius of Soros is in his honesty. I don't know of many investors at his level who have published anything close in value.
"It is the mark of an educated mind TO BE ABLE TO entertain a thought without accepting it"
-Aristotle
Most of us are UNABLE to even entertain...
you don't get away with studying at LSE without any economics involved. I just finished my studies there, I've looked at all the courses. btw, he came to LSE to give a speech few months ago.
P.S. Karl Popper (Soros teacher) was heavily involoved in disucssions of analytical and numerical research - on topics of causality - which is the focus of economics in general. Philosophy and economics are one anyways..
I think someone earlier mentioned the people Soros actually employs. If you've read of the people he has worked with etc. throughout his career, you'll know his actually not a great decision maker and much of the success he has had has always heavily depended on his employees, work collegues, and his general connections (in industry & politics). call it 'insider trader' if u like.
P.S. for those rambling on how good the book is:
1. tell me something the book tought you - that u already didn't know.
2. what different did it make? did it make u successful?
Soros just presents his own mind and ways of thinking. there is nothing INVALUABLE given. and as someone mentioned of 'investor thinking' this book is a joke next to books like Benjamin Graham's security analysis. if u want to actually learn from investors, learn from Buffet. not Soros. or at least know the NATURE (in Aristotles definition) of speculators.
I suppose all of this was given to him on a silver platter. Are we talking about George Soros or his son?
I find no value in this statement. It is superficial at best.
The VALUE, once again, can be found in his thought processes i.e. his analytical ability. Soros did not become a great investor because he surrounded himself with people like Jim Rodgers, it is the complete opposite.
you said: P.S. Karl Popper (Soros teacher) was heavily involved in discussions of analytical and numerical research - on topics of causality - which is the focus of economics in general. Philosophy and economics are one anyways..
We can often learn more from ourselves than from others. I suggest studying what you have posted as opposed to worrying about refuting where value can be found in Soros's books.
You can have all of the information in the world, but without comprehension and conviction it means nothing. Read George Soros for his information. If you are looking for the aforementioned (conviction) then I suggest studying something other than finance.
I was told by on 'the inside' the difference between Soros and Rodgers was the ability to pull the trigger when it mattered.
Take the word of Paul Tudor Jones for reading "Alchemy...," not mine.
(1) This Forum is about trading... not long-term "investing"...
Two completely different disciplines...
So Buffet's methodology is of no relevance.
(2) Agree that Soros' books are near worthless for traders.
(3) Agree one is better off FORMALLY STUDYING the classics...
Because the basis of philisophy is logic...
So only someone SCHOOLED in logic can discern Truth from Falsehood.
The ** vast majority ** of the wannabe traders at ET...
Are simply UNABLE to apply Basic Logic to the Financial Markets and the Business World...
And are ** dead at the starting line **.
(4) Only someone who has never built and run a successful business...
Which is roughly 98% of the posters at ET...
Could possibly believe that Soros' is not fully responsible for his success.
The idea that you can hire people...
And then they make you rich... is beyond naive.
Virtually all people think in terms of exploiting their employers.
I am a current Masters student at LSE. So, I also have some knowledge of this institution.
What you say is probably generally correct. However, as far as I am aware not every course has a economics component at LSE. Although the main focus of LSE is obviously economics and social science, not every course requires economics to be taken. Let me give you an example. You can take a degree in International History and take no economics.
Of course, Philosophy probably has some economics components to it. Although Philosophy and economics are related to a certain extent it overstates the case to say they are one. They are certainly both logical scientific disciplines.
Only someone who has never built and run a successful business... Which is roughly 98% of the posters at ET.. would believe Soros' is fully responsible for his success and/or he has some scientific methodology or is desperate to share his divine expertise in his books.
I did not suggest his employees/collegues making money for him. It is rather the information they present to him and the manner in which they have.. leverage that with the 'friendships' he has in the circles and politics - if u know anything of it.
I respect opinion of others on the man and his books. but give anyone the connections Soros made from early age from London to New York, and see if they need 'reflexibility' to make money..
Soros made his name on the bank of England crash.. ever since, he's lost more money from what he made on that bet.. and the rest of his success is full of questions (no time to get into it).