George Soros: America’s Top Investor And Activist

The life of George Soros reads just like a “rags to riches” tale. Soros was born into a Hungarian Jewish family just before World War II. Sadly, German troops came into Budapest when Soros was just a boy. His family raised enough money to send Soros to safety in the United Kingdom. Once Soros got to London, he entered the prestigious London School of Economics. To finance his studies, Soros worked as a railway porter and waiter around the British capital. After receiving his Master of Science in philosophy, Soros entered the banking world of London. A few years later, Soros decided to leave London and set up shop in New York City. He quickly formed a Wall Street hedge fund with around $12 million. This fund would later be known as Quantum Fund.

It wasn’t until 1992 that George Soros became a huge name in the investing community. That’s the year he took a massive short bet on the British Pound Sterling. The bet paid off big time for Soros. Indeed, his short position was so successful that some people still call Soros the man who “broke the Bank of England.” Ever since that investment, Soros has become one of the most respected investors on Wall Street. His company Soros Fund Management now has around $30 million in assets and is headed by Dawn Fitzpatrick.

Although people into finance might know Soros first and foremost as a maverick investor, most people know of Soros for his political activism. Having witnessed the horrors of Nazism first hand, Soros has always been a champion of liberalism and democracy. He set up the Open Society Foundations to donate to organizations around the world involved in fighting for equality and civil rights. Soros has spent a ton of money helping minority communities have a voice in the democratic process in the USA and in other nations around the world. Learn more on discoverthenetworks.org about George Soros.

Soros is a staunch supporter of the Democratic Party and a fierce opponent of President Donald J. Trump. In the past few years, George Soros has helped finance President Obama’s campaign as well as Hillary Clinton’s failed bid for the presidency in 2016. Ever since President Trump took office, Soros has warned of the potential dangers of Trump’s heated rhetoric. Soros has also been deeply concerned about the rise in hate speech and neo-Nazism across the USA. Soros has pledged millions of dollars to help organizations combat hate speech, “fake news,” and to empower refugees fleeing warzones.

As of today, Forbes Magazine estimates that Soros is worth around $24.2 billion. He now lives in New York with his third wife Tamiko Bolton. He has a total of five children, some of whom work for Soros’s organizations. Know more on Business Insider about George Soros.

Warren Buffet Plans to Embarrass the Leading Hedge-Fund Investors

When the news came about what warren had said, everyone was aghast with shock and surprise. Warren had wagered one of the most controversial bets ever. He said, that if he succeeded in outperforming and outdoing the leading hedge-fund investors the likes of Tim Armour in the span of less than a year, he would make and donate a million dollars to charity. How would he beat them? Well, here’s a recap of the rest of that story as shared on CNBC.

Warren Buffet got inspired to take on the challenge owing to the bad end of a deal millions of regular investors constantly received from the fund managers. It’s no secret that fund managers aren’t the most trusted of people. Many have been exposed for their shady dealing and engaging at the very expense of their clients. This is what happens. You give your money to an investment banker. They proceed to place a bet on particular stocks, commodities or ventures. Typically, clients hope to receive their dues and dividends on their shares and stocks at the end of let’s say, six months to a year.

Risky Intra-day Training

What the clients fail to realize is that the bankers are constantly using their money to engage in risky intra-day selling and buying and this is where the whole problem ensues. Again, Warren argues that it is much more costly today to trade with the investment bankers owing to the huge demand for their services, by the most ignorant investment community. After paying the handling fees and all the other hidden charges, you end up with zero to nothing returns on your investments. The alternative investment strategy model suggested by Buffet calls on doing away with the middlemen altogether. In other words, you will have to calculate the risks vs the rewards associated with any financial decision you intend to make.

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About Tim Armour

Tim Armour agrees, to some extent, with what Warren has to say. That’s why he’s quoted in the CNBC article reiterating the need for the investors to first check out the credentials and the background of the company they hope to do business with, moving forward. Tim Armour is no stranger to the investment world. On the stark contrary, this man has worked as a top business leader and executive in established multinational spanning companies like Capital Group Inc.

Read more: Q&A With Portfolio Managers Tim Armour and Rob Lovelace