The head of Soros funds management, George Soros, was born in Budapest, 1930. He graduated from London school of economics where he was living after he had fled communist dominated Hungary in 1947. After earning fame with a bet against the British pound in 1992, he has established himself to become one of the history’s most successful financiers today. The bet won him $1 billion profits owing to his steady rise in fame that year. He is widely followed for his views on investing and economic issues. He has recorded success in financial markets that enable him to have a stand on controversial issues. Owing to his financial capability, he has been able to take part in philanthropic activities. In 1979 he started open society foundations in place of authoritarian forms of government. The organization was started by providing scholarships for black students at the University of Cape Town in South Africa and also dissidents to study abroad.
George Soros is also an author of books, articles and essays. He writes about politics, society and economics. His works have appeared in the leading newspapers around the world. One of his books is The Tragedy of the European Union which was published in 2014. In the past years, Soros has done less on investing for himself but concentrated more philanthropy and public policy. Though out of spending realm, he closely monitors his firm’s investments. He occasionally inserts himself in the businesses operation if it has suffered loss.
Early this year Soros began spending more time in the office and directing trades. He has since returned to the office to seize opportunities to make a profit cause of the impending economic troubles. Scott Bessent, his top investor has also recently left the firm, and Mr. Soros is partly filling the void he has created. Bessent left the company to start his hedge fund. The philanthropist is worried about the outlook of economic and concerned that market shifts are at hand. According to people closer to the matter, He has recently directed a series of significant bearish investments. Soros fund management manages $ 30 billion for the Soros family and himself. The management fund has sold stocks and bought gold; it has also bought shares of gold miners in anticipation of weakness in the markets. Gold has been viewed as a haven during a difficult time of trading.
Mr. Soros, being an excellent trading influence is skeptical about the Chinese economy. China has been facing internal conflict with its political leadership. Mr. Soros says this will complicate china’s ability to deal financial issues. Mr. Soros also says while other Asian countries are accumulating foreign currency, China has been depleting its foreign exchange reserves, and they continue to suffer from capital flight. Soros moves are reflecting a disconsolate viewpoint in trading.
Learn more about George Soros: