George Soros Quantum Fund

George Soros was a relatively unknown fund manager, speculator, and founding principal of the Quantum Fund when he made his mark in 1992 by taking on the Bank of England and WINNING.

He reportedly made over one billion dollars on that play by figuring out that the British Pound was over 25% overvalued and that the Bank of England could not defend the inflated  evaluation. Soros shorted Pound Sterling massively and within a few weeks make a killing.

Soros rose from being an almost unknown currency trader to world wide fame as the smart guy who took on the Bank of England. By making a correct analysis of the state of the bank and the pound, and by having the guts to put on a massive trade, Soros made over one billion dollars from the bank and other British Pound Sterling supporters.

That was a lot of money in 1992. One billion in trading profits isn’t too shabby even today. Indeed, it was a gutsy and very profitable speculation.

I was working in Pakistan as a financial consultant in currencies at the time. One of our good smart, brave, brazen and bold Pakistani clients rode on the back of George Soros’s brass balls speculation and made over one million US dollars for himself. Thanks George.

Whatever you may think of George Soros he is a smart man. He was one of the front runners in taking the hedge fund industry to the dizzying financial heights that it has reached today.   

George Soros is a Hungarian born now billionaire investor, philanthropist and best selling author. Now an American businessman his success at shorting the British Pound in 1992 earned him the title as “The Man Who Broke the Bank of England”.

George Soros is a generous philanthropist, donating millions of dollars every year to the poor and disadvantaged around the world. He is active politically, in the background, not as an politician, and as an outspoken critic of the Bush adminstration has earned numerous critics in both finance and politics.

That is the price you pay for being an active, outspoken, free market supporting, open democracy, open society supporter, and outspoken  billionaire.

George Soros was born in Budapest, Hungary on August 12, 1930. In 1947 Soros fled the old Soviet Union Communist occupation of Hungary and arrived in England. He studied at the London School of Economics and graduated in 1952. In 1956 Soros moved to the United States of America.

After moving to America, Soros set up an investment fund that went on to create his massive fortune. It was his intention to simply support his love of writing from his Wall Street earnings, but his well timed investment decisions saw his wealth increase dramatically year after year.

His company, The Quantum Fund, went on to become one of the most successful managed investment funds ever, with more than a 30% gain  annually over a 30 year period.

Soros gained many critics along his path to financial success. Through his international currency speculating he amassed a fortune that earned him many powerful friends as well as enemies.

Soros has also been accused of negatively affecting the Malaysian ringgit during the Asian financial crisis in 1997 through his aggressive currency speculation.

George Soros is an active philanthropist that uses his money to fund causes that he supports and strongly believes in. Since 1979 he has been supporting and funding  organizations and activities world wide.

His first charitable actions helped to fund black students in the University of Capetown in South Africa during apartheid. Soros is founder and chairman of the Open Society Institute, an organization that supports democratic activities in more than 50 countries worldwide.

George Soros is the author of several successful money making books on the economy and politics. He first entered the business world to fund his passion for writing and philosophy, and continues to fulfill this passion for writing.

During the 2004 American election year, Soros became widely known to American voters with his criticism of George W Bush. Soros believes that the direction the Bush government has been taking America is flawed and in fact dangerously wrong. He contributed more than 15 million dollars to defeat President Bush at the polls.

Soros commented that “it is the central focus of my life” and “it is a matter of life and death”. Unfortunately, Soros was right about George W. Bush but the charmed arrogrant man was reelected anyhow.

At age 79 George Soros continues to be sharp and opinionated. He is a man worth listening to. His investment and business success show that on most issues George has been on the right side of the road.

If you want to become another George Soros you had better be pretty darn smart. 

Tweet This Post