## A Dozen Things About Investing I’ve Learned from George Soros

1. “Money is made by discounting the obvious and betting on the unexpected.” George Soros, like other great investors, is very focused on “expected value.” Expected value is equal to the weighted-average value for the distribution of possible outcomes (the payoff for a given outcome is multiplied by the probability that this outcome will occur). A bet which is unexpected by the crowd is only wise when the expected […]