How George Soros Received Popularity in the Hedge Fund Investment Industry

Mr. George Soros is recognized globally in the hedge fund investment industry as one of the most strategic managers and investors. He was born in Budapest and relocated to England, in the late 1490s to escape Hungary, a communist country. Mr. Soros studied philosophy at the London School of Economics and received his bachelor’s degree and master’s certificate, in the mid-1950s. He is very familiar with past international economies and compares past events with present conditions. In 1992, Mr. George Soros received popularity globally when he correctly predicted the fall of the United Kingdom currency.

According to Value Walk, “George Soros broke the Great Britain pound currency, which was the trade of the century and the most famous trade.” Hedge fund managers, including Mr. Soros predicted the pound would drop in value and betted against the currency. Mr. George Soros has studied the European markets for many years and anticipated the British pound would fall, regardless if there were an increase in interest rate or currency purchases. He gained popularity worldwide in the hedge fund industry and profited over a billion dollars. Value Walk explains how the pound devalued that fulfilled the prediction of Mr. Soros and other investors.

What caused the pound to fall is the fact that Great Britain decided to float its currency at the time. The pound dropped 15 percent compared to the Deutschmark and the United States Dollar. Quantum Fund on www.nybooks.com/contributors/george-soros/, a hedge fund managed by Soros betted an estimated $15 billion against the Great Britain pound. What happened next is phenomenal, the value of the Quantum Fund increased automatically by $4 billion as a result of the pound floating. The value of the fund increased even more within a few months to $22 billion. The total value for Mr. Soros and the partners of the fund was $7 billion.

From the Quantum Fund, George Soros and his partners profited over $1 billion. The bet against the British pound made Mr. Soros famous and reputable to provide valuable information to investors about global markets. He is continuously invited to economic forums and medias to share his expertise concerning international markets, including China, Europe, U.S. and other economies. He shared with a forum of investors in Sri Lanka earlier in 2016 that world markets are headed towards a crisis.

George Soros is the founder of Soros Fund Management and Open Society Foundation. He is a proclaimed writer and has written books, including Open Society: Reforming Global Capitalism and The Alchemy of Finance. Mr. Soros shares in over 35 books and articles his knowledge about international economies, politics, and society. He is worthy of his popularity in the investment industry as a humanitarian, philanthropist, economy forecaster, and investor. Learn more about his profile at forbes.com

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