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Who is George Soros – a great financier and speculator, compassionate philanthropist or Jewish Mason and globalist? Maybe this entire plus exclusive gift to feel and pursue the success makes him a legend. The story began in 1930 in Budapest, when middle class Jewish family had a son. The boy survived the Nazi pogroms of the war, but then the Communists came and the family fled to England in 1947. Young George studied economics in London and made his first attempt to financial career. Conservative England did not give him any chances and Soros immigrated to America, where he changed several professions. Success came in 1969 with the establishment of the Quantum Group. The company started with 4 million dollars borrowed from venture investors, and its today’s assets exceed 4 billion dollars. Quantum is considered as one of the most profitable funds ever created, 1000 dollars invested in 1969 would bring 4 million dollars in 2000. The fund achieved an average annual return of the impressive 31% for over thirty years of existence.

Джордж Сорос

The greatest Soros’s success was the FOREX speculation against the British pound in September 1992 when he won 2 billion dollars. For a month only the pound lost 14% of its value, Bank of England “got down on their knees” and threw in the towel – pound left the European exchange mechanism. Since then the British did not want even to hear about the euro. New 1,1 billion dollars were won during the next year. This success brought Soros worldwide fame and aura of infallible guru in the financial markets. Each of his words was followed with attention and each rumor about his actions mobilized an army of followers. It seemed that no currency was safe and FOREX was not the same; Asian “tigers” and “dragons” learnt this to their own cost in the 1997crisis. For a few months the currencies of major Asian economies, such as South Korea, Thailand, Singapore, Malaysia collapsed by 25-30%.

Of course, each story has its ending. At the beginning of the 90's, Soros invested in Eastern Europe, especially in Russia. His excessive confidence cost him too much in the Russian 1998 crisis. Over 1.5 billion dollars were "buried" in Russian debt instruments. Soros’s authority was at stake. Perhaps the desire for revenge compelled him to declare in 1999 the upcoming collapse of the technology companies. Soros began active sales playing with NASDAQ index. The prognosis was fundamentally correct but came true two years later and as a result 700 million dollars were lost. Then he started buying technology stocks and when NASDAQ really collapsed the situation was tragic – minus 3 billion dollars.

These strong emotions were too much for George Soros and in 2001 he changed the profile of his funds from venture to conservative. However, in our days Soros is a rich man; his fortune is estimated to about 5 billion dollars. The collapse of Lehman Brothers and the subsequently raging financial crisis gave a chance of the experienced player to return in a brilliant way. Bear market and the subsequent steep and rapid correction enabled Soros to make nearly 4 billion dollars.

Soros’s style is the most accurately characterized by his words, "It does not matter whether you are right or wrong; what matters is how much you win when you are right and how much you lose when you are wrong." Another part of his life is philanthropy. In 1979, he founded the Open Society Foundation, which operated in over 50 countries worldwide. Over the years, Soros has given to charity more than 2.8 billion dollars.

As each great person he has his enemies and admirers. Malaysian Prime Minister Mahtiyar called him "a demon” in human body that caused the Asian crisis. For thousands scholarship students of his Foundations Soros was the man who helped them to make profitable career. For financial circles he was the man who defeated Bank of England. All of this is George Soros. See more in Courses

 
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