Soros, ignorant in economic theory?

[Trader28Lite]

Quote from science_trader:

So please let your genius explode on that sentence : "Nearest analogy can be found in quantum physics where scientific observation gives birth to Heisenberg uncertainty principle".

Of course you know as we all learnt when we were 6 years old that Heisenberg principle is a plain consequence of the choice of a wave representation in quantum physics. Could you please enhance our common knowledge on the subject and let us know why Soros deserves Nobel Prize in physics for his contribution ?

Oh dear, why is it every pseudo intellectual falls back on their rudimentary understanding of quantum mechanics to try and impress?
But to answer your question as seriously as it deserves..... perhaps Schrodinger's cat has my tongue

 

[LondonUSTrader]

Quote from Mom0/pH0x:

that is incorrect, he did study philosophy in an elective context, but did in fact take and economics degree...

Actually you are incorrect. I quote from a recent LSE publication:

"George Soros (BSc Philosophy 1951 and PhD Philosophy 1954) is to donate $50m (£26.7m) to help tackle poverty and Aids in Africa. Mr Soros pledged to hand the cash to the United Nations' (UN) Millennium Villages Project over five years."

http://www.lse.ac.uk/collections/al...tions/eNewsletters/alumniNewsletterMich06.htm

A BSc in philosophy is not just taking philosophy as an elective, it is the main subject.

You may want to get your facts right before calling people liars.

 

[rodmike9]

Quote from LondonUSTrader:

Indeed. After many years of trading. I don't think "logic" is the right way to describe how the financial markets behave.

This is all in my opinion and experience. The financial markets don't necessarily behave in a cause and effect manner like a science or in a "logical" way.

If they behave in a "logical" way at all it is counter intuitive. Financial markets behave according to traders/actors perceptions of events.

That is why many times I have experienced the same thing. I have been told that the market can't do this or that because it is against economic law x. Or economic law y should mean the market will do z. But, the market then does the reverse. For example, that is why a good earnings report doesn't mean anything without actors perceptions of that event. When I used to work with clients, this was one thing they, or most I suspect, have problems grasping, the counter intuitiveness of the markets.

When using logic, or the science of correct reasoning, one can conclude for every buyer there is a seller, for every cause there is an effect. One could logically come to that conclusion through experiment, i.e. a trade.

As for trading, discerning what the market is telling you can be a whole different story. The discipline to recognize all of the variables involved and successfully execute a profitable trade requires correct logic.

Now whether or not the markets are rational is a different story.

As for Soros, he states "understanding reality, and financial markets in particular, is a never-ending process," which seems to me that this is an individual who hasn't closed the book on learning (no pun intended). That is a lesson to learned in itself.

The contributions published by Soros should not be worshiped nor overlooked.

 

[rodmike9]

Quote from rodmike9:



The contributions published by Soros should not be worshiped nor overlooked.

edit: contributions to finance

 

[Thunderdog]

Quote from Daal:

In Alchemy of Finance pg 122 he says "a strong dollar leads to a high trade deficit which weakens the economy". Was he mad when he wrote this?

An economy's health is the net result of a series of countervailing forces. The passage you quoted is broad-brush, but I don't see anything wrong with it. Previous posters have already pointed out why.

 

[findcount]

George Soros is a member of the Council of Foreign Relations !

probably explains why he's so 'good' in his investments !

 

[rodmike9]

Quote from findcount:

George Soros is a member of the Council of Foreign Relations !

probably explains why he's so 'good' in his investments !

ignorance

 

[Trader28Lite]

The grammar police always arrive when a debate is lost

 

[Batman28]

Quote from Mom0/pH0x:



you are incorrect on all accounts...soros has always been the primary and usually SOLE decision maker up until his retirement, and since has been more of a general sort of advisor... there are so many ignorant ppl on this thread espousing lies that they claim are true, this thread is a testament to the lack of credibility of mssg boards...

where did u get that from?

enough said.


(ps. remark on aristotle, - the nature of things, including man. Had nothing to do with investing or portfolio theory. don't be an idiot.)

 

[Daal]

Quote from Thunderdog:

An economy's health is the net result of a series of countervailing forces. The passage you quoted is broad-brush, but I don't see anything wrong with it. Previous posters have already pointed out why.

And they are wrong. The US economy has long being a internal demand driven economy.
It doesn't depend on exports, just look of how much of GDP is depended on exports.

Heck look at the trade deficit, if the US were any depended on exports it would be on a permant recession.
Soros sound like a congressman preaching nonsensical talk in order to establish protectionist policies.
A decrease in exports by a strong dollar is MORE than balanced by the fact you people can buy just about anything cheaply and have more DISPOSABLE income to drive the service sector