A Conversation With George Soros: At MIT

Here is a video we featured in tonight’s value investment links

(Thank you UndervaluedSecurities.com for finding it. )

Video Introduction (Via Undervalued Securities)

George Soros shares his view on global economic crisis and bubble & bust. This exclusive MIT event happened very recently. Discussion revolves around his views and ideas as reflected in his latest book: The New Paradigm for Financial Markets: The Credit Crash of 2008 and What It Means. In addition, Mr. Soros also shares his background and his concept of reflexivity in analyzing the global market.

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Conclusions (Via UndervaluedSecurities.com):

• The idea that you can predict the future is non-sense.
• You can not base decision only on knowledge or rational expectation due to your imperfect understanding of the world and the markets.
• Cognitive function and participating function affect realty; these two functions interfere each other and therefore outcome is never clear.
• Seemingly great ideas that work well in the beginning at the end will not work well anymore.
• It is better to assume that market is always wrong due to distorted bias way of the market participants.
• The prevailing movement of the market can affect the fundamental of the market and vice versa.
• Initially reality conforms the trend & misconceptions. Then the self-reinforcing process starts as long as it becomes unsustainable (super-bubble) and shows errors of market fundamentalism; then you’ll get reversal which is a non-linear event.