George Soros is the founder and chairperson of the Soros Fund Management, where he amassed a vast fortune and the Open Society Foundations. George Soros, born in 1930 in Budapest, is a survivor of the Nazi occupation.He departed the communist Hungary for England, where he studied at the London School of Economics and later made the United States his home. He has been an active philanthropist since 1979, when he started funding black students in apartheid South Africa. Today the Open Society Foundations operates in 100 countries. It strives to promote the values of open society, transparency, and human rights. He has penned several books and articles and essays on politics, culture, globalization and economics regularly feature in the leading newspapers and magazines globally. His fourteen books give understandings into how he looks at business and investing.
George Soros has returned to trading, after a long break, enticed by chances to profit from what he predicts as economic doom. Concerned about the position for the global economy and worried that significant market changes may be at hand, the billionaire investment fund founder and philanthropist recently directed some massive, bearish investments.
Soros Fund Management LLC, which oversees $30 billion, sold stocks and purchased gold and shares of gold miners, envisioning shortcomings in different markets. Financial experts often see color as a sanctuary in times of economic turmoil. The moves are a huge shift for Mr. Soros, who in 1992 gained popularity with a wager against the British pound, a trade that prompted to $1 billion of profits. The 85-year-old billionaire has concentrated on philanthropy and public policy. He is also a huge benefactor to the super PAC backing probable Democratic nominee Hillary Clinton and has contributed to other groups that are supporting Democrats.
He has always strictly observed his firm’s venture. But in the last few years, he hasn’t done much capitalizing off his own. At the start of this year, that changed when Mr. Soros began going to the office and spending more time guiding trades. He has also been maintaining contact with the executives more than before.
Mr. Soros also claims that there stands a good chance the European Union will breakdown due to the pressure of the migration crisis, current challenges in Greece and a possible departure by the United Kingdom from the European Union.
Mr. Soros’s bearish investments have had mixed achievements. According to securities filings, firm acquired more than 19 million shares of Barrick Gold Corp, making it the company’s largest stockholding at the close of the quarter. The Soros fund has improved this year, in line with most macro hedge funds.
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