---
title: "Meaning & Key Takeaway of: Start by assuming the market is always…"
description: "\"Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you're doomed to do poorly.\" — George Soros"
image: "https://sms4smile.com/quotes/i/c57/george-soros-1593_always-wrong_start-by-assuming-the-market-is-always-w_1906695.jpg"
---

#  Start by assuming the market is always wrong, so if you…

![“Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you're doomed to do poorly.” quote by George Soros](https://sms4smile.com/quotes/i/c57/george-soros-1593_always-wrong_start-by-assuming-the-market-is-always-w_1906695.jpg)   [Download](https://sms4smile.com/quotes/i/c57/george-soros-1593_always-wrong_start-by-assuming-the-market-is-always-w_1906695.jpg) [Open image](https://sms4smile.com/quotes/i/c57/george-soros-1593_always-wrong_start-by-assuming-the-market-is-always-w_1906695.jpg)

> “Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you're doomed to do poorly.”

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

## About This Quote

This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.

Assuming the market is always wrong encourages contrarian thinking, which can protect against herd behavior and poor performance.

**In simple terms:** Question market consensus to avoid copying everyone.

Key Takeaway

Think independently, avoid herd mentality.

Themes

finance critical thinking contrarianism

Mood

cautious analytical

Type

advisory philosophical

When to use this quote

- investment strategy
- portfolio construction
- trading decisions

Key Concepts

market efficiency behavioral bias risk management

Questions to Reflect On

- When have you benefited from going against the crowd?
- How do you balance contrarian views with data?

A Different Perspective

Assuming markets are always wrong can lead to missed opportunities.

★ ★ ★ ★ ★   No ratings yet

[Always wrong](https://sms4smile.com/quotes/about/always-wrong/) [Assuming](https://sms4smile.com/quotes/about/assuming/) [Assuming Market](https://sms4smile.com/quotes/about/assuming-market-2845998/) [Copies](https://sms4smile.com/quotes/about/copies/) [Copy Everybody](https://sms4smile.com/quotes/about/copy-everybody-2845999/) [Customer](https://sms4smile.com/quotes/about/customer/) [Doomed](https://sms4smile.com/quotes/about/doomed/) [Doomed Poorly](https://sms4smile.com/quotes/about/doomed-poorly-2846000/) [Ifs](https://sms4smile.com/quotes/about/ifs/) [Investing](https://sms4smile.com/quotes/about/investing/) [Market Wrong](https://sms4smile.com/quotes/about/market-wrong-2845997/) [Streets](https://sms4smile.com/quotes/about/streets/) [Wall](https://sms4smile.com/quotes/about/wall/) [Wall St](https://sms4smile.com/quotes/about/wall-st/) [Wall street](https://sms4smile.com/quotes/about/wall-street/)

## Related quotes

> [In the words of a very famous dead person, 'A nation that does not know its history is doomed to do poorly on the…](https://sms4smile.com/quotes/dave-barry/in-the-words-of-a-very-famous-dead-person-a-nation-that-does-not-know/)

[Dave Barry](https://sms4smile.com/quotes/author/dave-barry/)

> [Economists often get the market wrong.](https://sms4smile.com/quotes/kapil-sibal/economists-often-get-the-market-wrong/)

[Kapil Sibal](https://sms4smile.com/quotes/author/kapil-sibal/)

> [The market has a simple way of whittling all excessive pride and overblown egos down to size. After all, the whole idea is to…](https://sms4smile.com/quotes/william-o-neil/the-market-has-a-simple-way-of-whittling-all-excessive-pride-and/)

[William O'Neil](https://sms4smile.com/quotes/author/william-o-neil/)

> [Market prices are always wrong in the sense that they present a biased view of the future.](https://sms4smile.com/quotes/george-soros/market-prices-are-always-wrong-in-the-sense-that-they-present-a/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [The generally accepted view is that markets are always right -- that is, market prices tend to discount future developments accurately even when it…](https://sms4smile.com/quotes/george-soros/the-generally-accepted-view-is-that-markets-are-always-right-that-is/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [Market prices are always wrong.](https://sms4smile.com/quotes/george-soros/market-prices-are-always-wrong/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.](https://sms4smile.com/quotes/george-soros/the-prevailing-wisdom-is-that-markets-are-always-right-i-take-the-2/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [She didn't give George any too easy a time when she was alive. She was one of those semi-invalids – I believe she had…](https://sms4smile.com/quotes/agatha-christie/she-didn-t-give-george-any-too-easy-a-time-when-she-was-alive-she-was/)

[Agatha Christie](https://sms4smile.com/quotes/author/agatha-christie/)

> [Power is the pivot on which everything hinges. He who has the power is always right; the weaker is always wrong.](https://sms4smile.com/quotes/niccolo-machiavelli/power-is-the-pivot-on-which-everything-hinges-he-who-has-the-power-is/)

[Niccolo Machiavelli](https://sms4smile.com/quotes/author/niccolo-machiavelli/)

> [you may take it from me, that however hard you try - or don't try; whatever you do - or don't do; for better,…](https://sms4smile.com/quotes/gwen-raverat/you-may-take-it-from-me-that-however-hard-you-try-or-don-t-try/)

[Gwen Raverat](https://sms4smile.com/quotes/author/gwen-raverat/)

> [Since the majority is always wrong, might we try one election day where all the losers take office?](https://sms4smile.com/quotes/robert-breault/since-the-majority-is-always-wrong-might-we-try-one-election-day/)

[Robert Breault](https://sms4smile.com/quotes/author/robert-breault/)

> [Apparently, an undocumented side effect of dope is a gross overestimation of one's own intelligence. Dopers become convinced they've hidden their stash so well…](https://sms4smile.com/quotes/alafair-burke/apparently-an-undocumented-side-effect-of-dope-is-a-gross/)

[Alafair Burke](https://sms4smile.com/quotes/author/alafair-burke/)

> [Grasshopper always wrong in argument with chicken.](https://sms4smile.com/quotes/bertrand-russell/grasshopper-always-wrong-in-argument-with-chicken/)

[Bertrand Russell](https://sms4smile.com/quotes/author/bertrand-russell/)

> [Pay no heed to the passing religious vogue. Go back to the grass roots. Open your hearts and search the Scriptures. Bear your cross,…](https://sms4smile.com/quotes/aiden-wilson-tozer/pay-no-heed-to-the-passing-religious-vogue-go-back-to-the-grass-roots/)

[Aiden Wilson Tozer](https://sms4smile.com/quotes/author/aiden-wilson-tozer/)

> [People who try to predict the future by extrapolating in a line of more of what exists - they are always wrong.](https://sms4smile.com/quotes/jane-jacobs/people-who-try-to-predict-the-future-by-extrapolating-in-a-line-of/)

[Jane Jacobs](https://sms4smile.com/quotes/author/jane-jacobs/)

## More by George Soros

> [Merkel has realized that the euro is not working, but she cannot change the narrative she has created because that narrative has caught the…](https://sms4smile.com/quotes/george-soros/merkel-has-realized-that-the-euro-is-not-working-but-she-cannot/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But…](https://sms4smile.com/quotes/george-soros/at-times-of-recession-running-a-budget-deficit-is-highly-desirable/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [Markets are designed to allow individuals to look after their private needs and to pursue profit. It's really a great invention and I wouldn't…](https://sms4smile.com/quotes/george-soros/markets-are-designed-to-allow-individuals-to-look-after-their-private/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [We must not forget; but we must forgive. Suffering often such compassion from the Jewish community. It was Jewish groups in the US who…](https://sms4smile.com/quotes/george-soros/we-must-not-forget-but-we-must-forgive-suffering-often-such/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [I very often used to get backaches due to the fact that I was wrong. Whenever you are wrong you have to fight or…](https://sms4smile.com/quotes/george-soros/i-very-often-used-to-get-backaches-due-to-the-fact-that-i-was-wrong/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [We are the most powerful nation on earth. No external power, no terrorist organization can defeat us. But we can defeat ourselves by getting…](https://sms4smile.com/quotes/george-soros/we-are-the-most-powerful-nation-on-earth-no-external-power-no/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.](https://sms4smile.com/quotes/george-soros/markets-are-constantly-in-a-state-of-uncertainty-and-flux-and-money/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [What works for Germany can't work for the rest of Europe: No country can run a chronic surplus without others running deficits.](https://sms4smile.com/quotes/george-soros/what-works-for-germany-can-t-work-for-the-rest-of-europe-no-country/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [If truth be known, I carried some rather potent messianic fantasies with me from childhood which I felt I had to control, otherwise I…](https://sms4smile.com/quotes/george-soros/if-truth-be-known-i-carried-some-rather-potent-messianic-fantasies/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [Find the trend whose premise is false, and bet against it.](https://sms4smile.com/quotes/george-soros/find-the-trend-whose-premise-is-false-and-bet-against-it/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [ We \[at Soros Fund Management\] use options and more exotic derivatives sparingly. We try to catch new trends early and in later stages we… ](https://sms4smile.com/quotes/george-soros/we-at-soros-fund-management-use-options-and-more-exotic-derivatives/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [“On the abstract level, I have turned the belief in my own fallibility into the cornerstone of an elaborate philosophy. On a personal level,…](https://sms4smile.com/quotes/george-soros/on-the-abstract-level-i-have-turned-the-belief-in-my-own-fallibility/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and…](https://sms4smile.com/quotes/george-soros/the-main-difference-between-me-and-other-people-who-have-amassed-this/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds…](https://sms4smile.com/quotes/george-soros/by-creating-the-european-central-bank-the-member-states-exposed-their/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

> [Every bubble has two components: something - some real trend, and a misconception about that trend.](https://sms4smile.com/quotes/george-soros/every-bubble-has-two-components-something-some-real-trend-and-a/)

[George Soros](https://sms4smile.com/quotes/author/george-soros/)

[Explore all 225 George Soros quotes ](https://sms4smile.com/quotes/author/george-soros/)

## More Always wrong quotes

> [People who try to predict the future by extrapolating in a line of more of what exists - they are always wrong.](https://sms4smile.com/quotes/jane-jacobs/people-who-try-to-predict-the-future-by-extrapolating-in-a-line-of/)

[Jane Jacobs](https://sms4smile.com/quotes/author/jane-jacobs/)

> [Pay no heed to the passing religious vogue. Go back to the grass roots. Open your hearts and search the Scriptures. Bear your cross,…](https://sms4smile.com/quotes/aiden-wilson-tozer/pay-no-heed-to-the-passing-religious-vogue-go-back-to-the-grass-roots/)

[Aiden Wilson Tozer](https://sms4smile.com/quotes/author/aiden-wilson-tozer/)

> [Grasshopper always wrong in argument with chicken.](https://sms4smile.com/quotes/bertrand-russell/grasshopper-always-wrong-in-argument-with-chicken/)

[Bertrand Russell](https://sms4smile.com/quotes/author/bertrand-russell/)

> [Apparently, an undocumented side effect of dope is a gross overestimation of one's own intelligence. Dopers become convinced they've hidden their stash so well…](https://sms4smile.com/quotes/alafair-burke/apparently-an-undocumented-side-effect-of-dope-is-a-gross/)

[Alafair Burke](https://sms4smile.com/quotes/author/alafair-burke/)

> [Since the majority is always wrong, might we try one election day where all the losers take office?](https://sms4smile.com/quotes/robert-breault/since-the-majority-is-always-wrong-might-we-try-one-election-day/)

[Robert Breault](https://sms4smile.com/quotes/author/robert-breault/)

> [you may take it from me, that however hard you try - or don't try; whatever you do - or don't do; for better,…](https://sms4smile.com/quotes/gwen-raverat/you-may-take-it-from-me-that-however-hard-you-try-or-don-t-try/)

[Gwen Raverat](https://sms4smile.com/quotes/author/gwen-raverat/)

> [Power is the pivot on which everything hinges. He who has the power is always right; the weaker is always wrong.](https://sms4smile.com/quotes/niccolo-machiavelli/power-is-the-pivot-on-which-everything-hinges-he-who-has-the-power-is/)

[Niccolo Machiavelli](https://sms4smile.com/quotes/author/niccolo-machiavelli/)

> [She didn't give George any too easy a time when she was alive. She was one of those semi-invalids – I believe she had…](https://sms4smile.com/quotes/agatha-christie/she-didn-t-give-george-any-too-easy-a-time-when-she-was-alive-she-was/)

[Agatha Christie](https://sms4smile.com/quotes/author/agatha-christie/)

> [Without the instruments and accumulated knowledge of the natural sciences... humans are trapped in a cognitive prison. They are like intelligent fish born in…](https://sms4smile.com/quotes/e-o-wilson/without-the-instruments-and-accumulated-knowledge-of-the-natural/)

[E. O. Wilson](https://sms4smile.com/quotes/author/e-o-wilson/)

> [Torturing a human being is almost always wrong, but it is not absolutely wrong.](https://sms4smile.com/quotes/peter-singer/torturing-a-human-being-is-almost-always-wrong-but-it-is-not/)

[Peter Singer](https://sms4smile.com/quotes/author/peter-singer/)

> [People recognize me from everything and as soon as I think I know where they know me from, I'm always wrong.](https://sms4smile.com/quotes/niecy-nash/people-recognize-me-from-everything-and-as-soon-as-i-think-i-know/)

[Niecy Nash](https://sms4smile.com/quotes/author/niecy-nash/)

> [Socialism is always wrong.](https://sms4smile.com/quotes/george-ayittey/socialism-is-always-wrong/)

[George Ayittey](https://sms4smile.com/quotes/author/george-ayittey/)

> [So, economics should emulate physics' basic ethos, but its search for precision in physics-like formulas is almost always wrong in economics.](https://sms4smile.com/quotes/charlie-munger/so-economics-should-emulate-physics-basic-ethos-but-its-search-for/)

[Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/)

> [I have taken the stand that nobody can be always wrong, but it does seem to me that I have approximated so highly that…](https://sms4smile.com/quotes/charles-fort/i-have-taken-the-stand-that-nobody-can-be-always-wrong-but-it-does/)

[Charles Fort](https://sms4smile.com/quotes/author/charles-fort/)

> [Don't make decisions by majority vote. The majority is almost always wrong.](https://sms4smile.com/quotes/adrian-rogers/don-t-make-decisions-by-majority-vote-the-majority-is-almost-always/)

[Adrian Rogers](https://sms4smile.com/quotes/author/adrian-rogers/)

[Browse all 71 Always wrong quotes ](https://sms4smile.com/quotes/about/always-wrong/)

```json
{
    "@context": "https://schema.org",
    "@graph": [
        {
            "@type": "Quotation",
            "text": "Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you're doomed to do poorly.",
            "creator": {
                "@type": "Person",
                "name": "George Soros"
            },
            "isPartOf": {
                "@id": "https://sms4smile.com/quotes/#website"
            },
            "url": "https://sms4smile.com/quotes/george-soros/start-by-assuming-the-market-is-always-wrong-so-if-you-copy-everybody/",
            "about": {
                "@type": "Thing",
                "name": "Always wrong"
            },
            "@id": "https://sms4smile.com/quotes/george-soros/start-by-assuming-the-market-is-always-wrong-so-if-you-copy-everybody/#quotation",
            "image": {
                "@type": "ImageObject",
                "@id": "https://sms4smile.com/quotes/i/c57/george-soros-1593_always-wrong_start-by-assuming-the-market-is-always-w_1906695.jpg",
                "contentUrl": "https://sms4smile.com/quotes/i/c57/george-soros-1593_always-wrong_start-by-assuming-the-market-is-always-w_1906695.jpg",
                "url": "https://sms4smile.com/quotes/i/c57/george-soros-1593_always-wrong_start-by-assuming-the-market-is-always-w_1906695.jpg",
                "width": 1080,
                "height": 1080,
                "caption": "“Start by assuming the market is always wrong, so if you copy everybody else on Wall Street, you're doomed to…” — George Soros",
                "creditText": "SMS4Smile Quotes",
                "creator": {
                    "@id": "https://sms4smile.com/quotes/#organization"
                }
            }
        },
        {
            "@type": "BreadcrumbList",
            "itemListElement": [
                {
                    "@type": "ListItem",
                    "position": 1,
                    "name": "Home",
                    "item": "https://sms4smile.com/"
                },
                {
                    "@type": "ListItem",
                    "position": 2,
                    "name": "Quotes",
                    "item": "https://sms4smile.com/quotes/"
                },
                {
                    "@type": "ListItem",
                    "position": 3,
                    "name": "George Soros",
                    "item": "https://sms4smile.com/quotes/author/george-soros/"
                },
                {
                    "@type": "ListItem",
                    "position": 4,
                    "name": "Start by assuming the market is...",
                    "item": "https://sms4smile.com/quotes/george-soros/start-by-assuming-the-market-is-always-wrong-so-if-you-copy-everybody/"
                }
            ],
            "@id": "https://sms4smile.com/quotes/george-soros/start-by-assuming-the-market-is-always-wrong-so-if-you-copy-everybody/#breadcrumb"
        },
        {
            "@type": "WebSite",
            "@id": "https://sms4smile.com/quotes/#website",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "publisher": {
                "@id": "https://sms4smile.com/quotes/#organization"
            }
        },
        {
            "@type": "Organization",
            "@id": "https://sms4smile.com/quotes/#organization",
            "name": "SMS4Smile Quotes",
            "url": "https://sms4smile.com/quotes/",
            "logo": {
                "@type": "ImageObject",
                "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png",
                "width": 512,
                "height": 512
            }
        }
    ]
}
```