George Soros
George Soros
George Sorosis a Hungarian-American business magnate, investor, philanthropist, political activist and author who is of Hungarian-Jewish ancestry and holds dual citizenship. He is chairman of Soros Fund Management. He is known as "The Man Who Broke the Bank of England" because of his short sale of US$10 billion worth of pounds, making him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis. Soros is one of the 30 richest people in the world...
NationalityHungarian
ProfessionEntrepreneur
Date of Birth12 August 1930
CityBudapest, Hungary
The trouble with institutional investors is that their performance is usually measured relative to their peer group and not by an absolute yardstick. This makes them trend followers by definition.
Find the trend whose premise is false, and bet against it.
Once a trend is established it tends to persist and to run it’s full course.
Short term volatility is greatest at turning points and diminishes as a trend becomes established
Economic history is a never-ending series of episodes based on falsehoods and lies, not truths. It represents the path to big money. The object is to recognize the trend whose premise is false, ride that trend and step off before it is discredited.
Every bubble has two components: something - some real trend, and a misconception about that trend.
As the housing boom cools off, there will be a shortfall in demand (which will) affect the global economy.
We have come to realize that a large hedge fund like Quantum Fund is no longer the best way to manage money, ... Markets have become extremely unstable and historical measures of value at risk no longer apply.
Most of the capital (in Indonesia) is in the hands of limited business groups, which don't feel so secure here. Any slightest risk will cause them take their money to Singapore.
I think I lost my touch some time ago. I'm like an aging boxer that should not go into the ring,
The absurdity of its illegality has been clear to me for some time. I learned about pot from my kids and realized it was a lot better than Scotch, and I loved the Scotch. Then I went to my doctor, and he said, 'I'm thrilled. You're drinking too much. You're much better off doing pot than drinking.'
I don't think you will see the Fed jumping to interest rates,
I expect by '07 there will be a significant decline in U.S. consumer spending, and I don't see what will take its place, because it's so important as the motor of the world economy.
So I think what needs to happen is he needs to be removed from power,