From the book Hedge
Fund Market Wizards:
“You need to implement a trade in a way that limits your
losses when you are wrong, and you also need to be able to recognize when a
trade is wrong. George Soros has the least regret of anyone I have ever met.
Even though he will sometimes play up to his public image as a guru who knows
what is going on, it is in no sense what he does as a money manager. He has no
emotional attachment to an idea. When a trade is wrong, he will just cut it,
move on, and do something else.”