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.
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.
I have given myself a Tesla for my 60th birthday.
In my experience, the more successful an idea is, the easier it is to fund it. In philanthropy, it's almost harder.
I've always loved to play games, and face it: investing is one big game. You need to be decisive, open-minded, flexible and competitive.
The few times that Soros has ever criticized me was when I was really right on a market and didn't maximize the opportunity.
