George Soros fled the Nazi Germany from Hungary to England. He got educated in England and in 1952 Soros graduated from the London School of Economics and obtained an entry level position. He worked first at an investment bank in London. In the year 1956, George Soros immigrated to the United State. While there he held an investment analyst post with an investment bank in New York. He worked there up to the year 1959 then later with Wertheim & Co. and Arnhold & S. Bleichroeder.
After working for others he went on his own from the year 1973. George Soros founded a hedge fund company and named it Soros Fund Management. It then grew to become a recognized and respected Quantum Fund. For over two decades he managed the hedge fund successfully making returns of over 30% and at times made returns of more than 100%.
In 1980 he left the day to day management of his firm and being one of the wealthiest people in the world he started philanthropy. George Soros has donated huge amounts of funds worldwide. In the recent years, he has been involved in political activism. Soros has also taught and written extensively on role of the US in dealing with human rights, politics and education. Soros also has an honorary degree from Oxford University. George Soros regards himself as a philosophical speculator and a contributor.
George Soros is a master in translating the economic trends. He describes the economic market as chaotic on https://en.wikipedia.org/wiki/Soros_Fund_Management. In September 1992 Soros made a fortune by predicting the pound outcome correctly. Soros sold more than $10 billion in pounds and made a profit of 1$ dollars. He demolished the monetary system of the Great Britain in a day. On that day it is safe to say that George Soros brought the bank of England to its knees. The bet he made can only be said to be elegantly constructed against the currency. After that loss in the same night, Lamont held a news conference to announce that Britain was exiting the ERM. They also floated their currency on the market, Soros and other speculators had won.
The price of securities and currencies depend on human beings as Soros says. These humans whether professionals or non-professionals act on www.valuewalk.com/2016/05/george-soros-broke-gbp-trade-century/ on emotions instead of logic. Market participants also influence each other according to Soros and move in masses. George Soros says on his part he has an instinctive physical reaction of when to sell and buy. This makes Soros model or strategies are difficult to emulate or model.
After George Soros retired over 20 years’ age, he used that time speculating for other people using their money and has made both him and them very wealthy.
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The past few years have been marked by a feeling of instability in the global community, with terrorism on the rise in Europe and a major refugee crisis underway. Multi-billionaire hedge fund owner George Soros addressed the issues surrounding the refugee crisis recently, when he published an article on the topic in www.nybooks.com.
Soros has been a major force as an investor and as a man involved in progressive politics on http://www.nytimes.com/topic/person/george-soros for many years. He started his career in the 1950s and since then has become an investment force to be reckoned with. He predicted the 2008 global meltdown, and has been prescient about many major economic and political situations, which is why George Soros is a man who is always listened to carefully. All of this is why his thoughts on the current refugee crisis are being examined carefully.
According to George Soros, the current plan, which was implemented after a EU/Turkey summit, is not workable for a variety of reasons. One issue is the plan was imposed on Turkey by German Chancellor Angela Merkel, and it is not really a “European” plan. The plan is underfunded, which is sure to doom it to failure. It is also involuntary and it asks refugees to relocate to places on https://www.project-syndicate.org/columnist/george-soros they do not want to go to, and it asks those who have already made their way to Europe to leave again. Finally, the plan also puts Greece in the position of holding and taking care of a large refugee population without providing the financial resources needed.
All of this obviously adds up to a difficult situation, and it is Soros’ view that it could lead to a human rights catastrophe of massive proportions. His solution is, more than anything, to provide much greater funding to deal with the crisis, to the tune of $34 billion annually. Yes, George Soros admits this is a large amount of money, but the cost will be dwarfed by the amount of money a major crisis would cost.
Will the EU respond to Soros’ suggestions? Only time will tell, but according to Soros, time is of the essence.
On a panel in Washington DC, George Soros made the statement that he sees similarities in the financial network of the world to the crisis of 2008. Mr. Soros is an experienced hedge fund investor who is worth over $28 billion. He has been a leader in the financial arena and stock market since he founded the 1950s. In the 1960s, he made a one million dollar bet that the UK’s economy would drop, and that prediction earned him the reputation of a financier with discernment and a sense of the future.
Other financial experts agree that there are similar characteristics occurring to the crisis of 2008, but they are not as alarmed as Soros. Mr. Soros’s prediction on Bloomberg is a warning that cannot be ignored. As a citizen of the U.S. or if you are an investor anywhere on the planet, here are eight points that Mr. Soros considers as revelatory of the future.
1) The value of the yen, Asian and Chinese currency, has been decreasing.
2) The economy of China has decreased as manufacturing has decreased.
3) The economy of Asia is being affected by the decreasing yen and China’s sluggish economy.
4) The price of gold is over $1,100 per ounce, which is the highest ever.
5) In the past month, the Chinese trade market closed early for the day on two separate days. China’s transitioning economy from stocks and production to every day use and services is being blamed. In recent months, China lost over $2.5 trillion in their economy.
6) The Chicago Board Options Exchange Volatility Index, which measures the vulnerability of the U.S. public is up 13 percent.
7) The Merrill Lynch index of projected price changes in Treasury Bonds has risen almost six percent in 2016. Merrill Lynch is one of the most skilled financial firms in the United States.
8) The People’s Bank of China cut interest rates to record lows in an effort to equalize the Chinese market. Government authorities put hundreds of billions of dollars into the economy in order to bring balance back.
Mr. Soros is confident in expressing his opinion and perspectives both in the financial market and in politics. He says that in 1979 he had earned enough money, so now he is responsible for putting it back into society.
In 2008, Mr. Soros donated $25 million in an effort to remove George Bush from office. Recently, in 2015, he donated over $8 million for pro-Hillary groups. He is a liberal who sees the Democratic Party, led by Hillary Clinton, to be the one that prevents the economy from going into another crisis.
Know more: https://www.opensocietyfoundations.org/people/george-soros