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" Soros is the best loss taker I've ever seen. He doesn't care whether he wins or loses on a trade. If a trade doesn't work, he's confident enough about his ability to win on other trades that he can easily walk away from the position. "

Stanley Druckenmiller
Work
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" Soros has taught me that when you have tremendous conviction on a trade, you have to go for the jugular. It takes courage to be a pig. It takes courage to ride a profit with huge leverage. "
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" What a company's been earning doesn't mean anything. What you have to look at is what people think it's going to earn. If you can see something in two years is going to be entirely different than the conventional wisdom, that's how you make money. "
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" You can be far more aggressive when you're making good profits. "
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" All in all, I don't think robots and greater automation can bring about a utopian world as I imagined it would as a kid 50 years ago. "
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" Good debt growth is when you borrow money, and it goes into the real economy. You do capital spending. You build businesses. "
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" I think ageing demographics is a bigger issue in China than people think. And the problems it creates should be become evident as early as 2016. "
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" If you're extremely confident, taking a loss doesn't bother you. "
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" There's just nothing to me so invaluable in my business, but in many businesses, as great mentors. "
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" I love being around kids. I couldn't figure out why all these 70-year-olds wanted to hang out with me when I was 27. Now I understand, and I'm trying to steal their energy from them like they stole from me at the time. "
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" Part of my advantage is that my strength is economic forecasting, but that only works in free markets, when markets are smarter than people. That's how I started. I watched the stock market, how equities reacted to change in levels of economic activity, and I could understand how price signals worked and how to forecast them. "
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" Whenever I see a stock market explode, six to 12 months later you are in a full blown recovery. "
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" If machines do everything well, including allocating capital and resources efficiently, can that be deflationary, can that eliminate poverty? I don't know. It's hard to be very optimistic if you look at how humans have behaved historically. "
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" I believe that good investors are successful not because of their IQ, but because they have an investing discipline. But, what is more disciplined than a machine? A well-researched machine can make many average investors redundant, leaving behind only the really good human investors with exceptional intuition and skill. "
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