In the modern business world, only the individuals with a vast. George Soros is one of the greatest investors the world has ever had. According to George Soros, it doesn’t matter whether one is right or wrong. All that matters are the amount of money you make when you are right, and that which is lost when you are wrong.
Soros escaped Hungary in 1947 for England. He then graduated from the London School of Economics in 1952.Soros acquired an entry-level position with an investment bank in London. He immigrated to the United States where he secured various investment management positions at the New York firms, in 1956 on https://twitter.com/georgesoros.
In 1973 Soros, founded the hedge fund company of Soros Fund Management. The company eventually evolved into the famous and Quantum Fund. In Nearly two decades, George Soros ran this aggressive and successful hedge fund. The company racked up returns more than 30% per year. Occasionally the hedge fund was reported to post annual returns of more than 100%.
In the late 1980s, he was already one of the wealthiest people in the world. George Soros gave up the day-to-day management of the Quantum Fund. He became a great philanthropist. Due to his charitable nature, he donated vast amounts of money worldwide through his Open Society Foundation. He became interested in politics, and he has written and lectured on other things such as human rights, political freedom, and education.
Soros was offered an honorary degree from Oxford University. During this moment, he said that he would like to be regarded as a financial, philosophical and philanthropic speculator. It suits him perfectly, as he already had become very successful.
As an investor, George set short term goals. He was a short-term speculator. Soros made huge bets when capital markets were involved. He termed financial markets as chaotic. According to Soros, the prices of securities and currencies depends on the traders. Unfortunately, they sell based on their emotions instead of logical considerations. Soros believed that market participants were of great influence to each other.
He says that he worked with the crowds mostly but was always ready in case an opportunity presented itself. However, George Soros admits that he had an instinctive physical reaction which guided him on when to buy and sell. His strategy, therefore, was hard to emulate. His uniqueness contributed vastly to him becoming one of the world’s wealthiest investors in history.
George opened many successful investors’ minds and expanded their thinking on matters of macroeconomic theories. According to George; when playing by the rules, one does the best he can irrespective of the social consequences.
However, when generating the rules, people ought to be concerned with the social effects, rather than their personal interests. That’s how they lose it.
Read more: Billionaire Soros Cuts U.S. Stocks by 37%, Buys Gold Miner