I've learned many things from him, but perhaps the most significant is that it's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "I've learned many things from him, but perhaps the most significant is that it's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong." in the context of "Stanley Druckenmiller as quoted in The New Market Wizards : Conversations with America's Top Traders (1994) by Jack D. Schwager, p. 207; part of this statement has sometimes been attributed directly to Soros: It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong. (as quoted in 500 of the Most Witty, Acerbic and Erudite Things Ever Said about Money (2002) edited by Philip Jenks)" to mean that wisdom is timeless.