It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.

In trading and investing, Soros’s attributed remark shifts the focus from being “correct” in a prediction to managing payoff asymmetry. Markets can move against a sound thesis for long periods, and even a correct view can be unprofitable if position sizing, leverage, and timing are wrong. Conversely, a trader can be “wrong” often yet succeed by cutting losses quickly while allowing winning positions to compound. The quote encapsulates risk management: define downside, avoid ruin, and structure trades so that gains meaningfully exceed losses. It also implies humility—treat beliefs as provisional and let price action and risk limits, not ego, determine outcomes.

“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.”
“It’s not whether you’re right or wrong that’s important; it’s how much you make when you’re right and how much you lose when you’re wrong.”
“It’s not about being right or wrong; it’s about how much you make when you’re right and how much you lose when you’re wrong.”