George Soros on the Financial Crisis Tuesday, November 11, 2008
Posted by ei-forum in Miscellaneous.trackback
Love him or hate him, it’s always worth listening to Mr. Soros. This is a speech he recently gave at Columbia where he discusses the current crisis and his theory of bubbles.
Mr. Soros highlights that financial markets never reflect the true financial picture but a biased or distorted picture of the current financial situation and that sometimes, this misconception can distort actual fundamentals.
We do not want to ruin the speech for you – it is worth listening too:
Very interesting… enjoy!
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[...] Video: George Soros On Financial Crisis – Via Enterprising Investor [...]
I recently featured Fareed Zakaria’s interview of Soros is and interesting discussion of how bubbles form out of misconceptions and how reality sets in and bursts and crashes bubbles.
Unlike other critics like Peter Schiff and Jim Rogers, Soros favors government intervention to regulate markets since he doesn’t believe in the “self-correction to equilibrium” notion of markets.
Soros’ skeptical approach to human prediction of markets is similar to Nassim Taleb’s ideas that history is inherently a fallacy and any prediction based on past data is imperfect at best.