Quote of the day by George Soros: "A boom/bust process occurs only when market prices find a way to influence the so-called fundamentals that are supposed to be reflected in market prices."

Economic Times features a quote of the day by George Soros on boom/bust cycles driven by reflexivity, where market prices actively shape fundamentals rather than merely reflecting them. The piece explains how rising prices fuel credit expansion and investment, temporarily boosting fundamentals, while falling prices trigger the reverse feedback loop. It highlights relevance to current conditions including high liquidity, rapid credit growth, and AI-driven speculative cycles.