Mr. Soros tries prove something - what?

OK, let me state first - who is Mr. Soros and who's me - to make a critics there. But.
I was hesitating to write this, but I truly want, that if you are reading this review, you are making the decision, whether to get the book on your shelf or no.
1. I had read a lot of books, will read more, but such an EGO driven book is a one I face first time. Mr. Soros is trying to prove something to someone. Me, my, I, me, my father, I, me, us........... It's like a da ja vu, once you are at the end of book.
2. Mr. Soros is very good at telling us WHAT HAPPENED, and WHY it happened, saying that subprime crisis will lead to trouble (of course saying - but I knew it, but I knew it..lalala... all are dumb, all are stupid only me knew it).
3. All the time Mr. Soros is trying to prove, that he is not ONLY a SUCCESSFUL SPECULATOR (if you my reader stil are in doubt who is a winner, I will call all chapter as "SUCCESSFUL SPECULATOR"), byt he also a Philosopher, and as any extrapolated to cosmos ego driven maniac he is placing his name near a all antique Greek philosophers and more contemporary ones. In that way Mr. Soros is devoting a whole chapter to his cloudy Theory of Reflexivity, which says a lot words, a lot of everything, but it can e said in 2 words - you can not predict future events based on past because the knowledge of people are not absolute, and they behave as social creatures.
4. Well, yeah, great. So, what we do? If you say, that we scroll the economy factbooks and recycle them at nearest garbage bin what next?
5. Next is at the end of book. Mr. Soros is proudly announcing that he is going short US bonds (now biggest rally in history), and long on China stocks (hardest hit of equity markets last year).
6. Oh, you still think Mr. Soros write book not for his ego, but you my friend?
How about this - I am citing - "I will not write anything about Russian market because I do not want invest here"

[Friday, January 02, 2009]

Reality

After reading George Soros' book, The New Paradigm for Financial Markets, I can imagine him tracking us down, asking, "Can you hear me now?" Much of this new book revisits and explains again his earlier work, The Alchemy of Finance, and his theory of reflexivity. Under his theory, there is constant interaction between the objective dimension of cognitive analysis, and the subjective component of trying to beat other investors by taking particular actions. In both books he makes the case for imperfect markets, arguing against the prevailing theory of market equilibrium. Soros suggests that we would be well served if we worked toward a better understanding of the human condition. We are sorely mistaken if we think financial markets can be captured and understood solely by mathematics. He notes that the recent cycles of bubbles and bust prove his theory. The 162 pages of this book are well worth reading, and it's always interesting to listen to what a billionaire has to say.

Rating: Three-star (Recommended)

[Monday, December 22, 2008]

The ramblings of an old man who was once relevent

This book's point could have been made in one paragraph on a BLOG. The rest of the book is a waste of cellulose fibers. Soros is a brilliant investor who has an interesting theory that markets do not tend to equilibrium but are significantly effected by human emotion. Thus there is a bubble effect. There ya go - save your money for the book. The rest is just ramblings. If he were to do any real analysis it would have been worth the time to read.

It would be interesting to bring Milton Friedman back from the dead and have him and Soros on a 4 hour TV special to argue their points. Soros is clearly in conflict with Friedman and clearly in conflict with Bush administration shock politics (Naomi Klein) and clearly in keeping with the Obama socialist movement. Soros idea is a 'cheerleader in the bleechers' for the current wave of change in the US.

[Saturday, December 06, 2008]

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