Sunday, February 5, 2017

George Soros: The Devil on Earth

George Soros (/ˈsɔːroʊs/[5] or /ˈsɔːrɒs/; Hungarian: Soros György, pronounced [ˈʃoroʃ ˈɟørɟ]; born August 12, 1930) is a Hungarian-American[a] investor, business magnate,[8][9] and philanthropist. Soros is considered by some to be one of the most successful investors in the world.[10][11][12] As of February 2017, Soros has a net worth of $25.2 billion making him one of the 30 richest people in the world.[13]

Born in Budapest, he escaped Nazi Germany occupied Hungary and emigrated to England in 1947. He attended the London School of Economics graduating with bachelor's and eventually a master's in philosophy. His business career began with him taking various jobs at merchant banks before starting his first hedge fund, Double Eagle in 1969. Profits garnered from his first fund laid the seed money for him to start Soros Fund Management, his second hedge fund in 1970. Double Eagle was renamed the Quantum Fund, and was the principle firm Soros advised. At its founding, the Quantum Fund had $12 million in assets under management, and as of 2011, has $25 billion, the majority of his overall net worth.[14] He is known as "The Man Who Broke the Bank of England" because of his short sale of US$10 billion worth of Pound sterling, making him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis.[15][16]

His early studies of philosophy lead him to develop and apply Karl Popper's Reflexivity to capital markets, which he claims renders him a clear picture of asset bubbles, fundamental/market value of securities, as well as value discrepancies used for shorting and swapping stocks.[17]

He is a well-known supporter of American progressive and American liberal political causes and dispenses his donations through his foundation, the Open Society Foundations.[18] Between 1979 and 2011 Soros donated more than $11 billion to various philanthropic causes.[19][20] He played a significant role in the peaceful transition from communism to capitalism in Eastern Europe in the late 1980s and early 1990s,[15] and provided one of Europe's largest higher education endowments to the Central European University in his hometown.[21]

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SOURCE: YOUTUBE, WIKI

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