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pect of my existence. . . . I like to understand. . . . I wasted a large part of my youth regurgitating certain ideas. Then I discovered that one can learn a great deal more through action than through contemplation. So I became an active thinker where my thinking played an important role in deciding what actions to take and my actions play an important role in improving my thinking. This two-way interaction between thinking and action became the hallmark of my philosophy and the hallmark of my life."46

In addition to his books on his financial theories, Soros has written two about philanthropic endeavors—Opening the Soviet System and Underwriting Democracy. He also has received honorary doctoral degrees from the New School for Social Research, the University of Oxford, Budapest University of Economics, and Yale University.

Attempts to Institutionalize

Soros has made several attempts at institutionalizing his firm. In early 1998, analysts were assigned areas to cover for the first time. Prior to this, they followed