Sat 24 Nov 2007
There is an interview with George Soros at youtube: http://www.youtube.com/watch?v=0zzQk8IwSJE
George Soros appears in conversation with Google CEO Eric Schmidt discussing his new book “The Age of Fallibility: Consequence of the War on Terror” as part of the Authors@Google series. This event took place on Auguest 9, 2006, at Google’s headquarters in Mountain View, CA.
One person in the audience asked George Soros what the real secret was to his success in the markets. The person had a father who was a speculator also, and after having red all Soros books, he was still not able to make any money. People laughed. Where Soros explained his real secret in the markets, that he was always wrong. He also commented about LTCM blow up, where he says that they had great models, but the model had flaws. When such a model is used over time the flaw will come to the surface.
The clip is worth while if you can stand a little George W. Bush bashing.