乔治索罗斯

I. Investment Philosophy: The Integration of Philosophy and Practice
George Soros's investment philosophy centers on the 'theory of reflexivity,' combining macroeconomic analysis, contrarian thinking, and dynamic risk management, forming a system that subverts traditional financial understanding.

Theory of reflexivity: The 'two-way distortion' between the market and participants

Soros believes there is an interaction between cognitive biases of market participants and price fluctuations: investors' expectations drive prices away from fundamentals, and price changes further reinforce biases, creating a self-reinforcing cycle. For example, in 1992, when he targeted the pound, he exploited the market's overestimation of the UK’s economic strength, accelerating the pound's collapse through massive shorting. This theory challenges the traditional economic assumption of 'market equilibrium' and reveals the irrationality and instability of financial markets.