George Soros the Greatest Investor and Philanthropist
After years of being away from trading, George Soros is back again. The trader is back to after being attracted by the opportunities in the market due to coming economic troubles. George recently directed bearish investments since he is worried about the global economy. According to people close to the investment issue, George Soros led the investment due to his concern on significant market shifts.
Soros Fund Management LLC manages $30 billion for George and his family. The firm sold stocks then bought gold and shares of gold miners. The purchase has been made in anticipation of weakness in different markets. Most investors consider gold to be an anchorage during times of economic turmoil.
George used to monitors his investments in the past. However, recently Soros has not done investing in his own. The change was evident this year when George began spending more of his time in office directed trades. He is frequently getting in contact with the executives, as revealed by close people.
George is going into a void at his company. Scott Bessent was a top investor in the business, and he had micro investing background. However, Scott quit the firm last year, and he ventured into his hedge fund. George has made an investment of $2 billion together with Scott’s company, Key Square Group.
Ted Burdick became the company’s chief investment officer in 2015. Ted has a background in arbitrage and distressed debt among other types of trading. It is for that reason that Soros found Ted, an appropriate person for the position, unlike Scott who only had a background in macro investing. George Soros says that he feels comfortable stepping back after appointing Ted as the chief investment officer. Read his profile at Forbes.
George is worried that new troubles will come up in China because he thinks that the country is not willing to embrace the transparent political system. That is why he believes that the state should enact lasting economic overhauls. Some investors are already anticipating rising inflation due to recent wage gains in the United States. However, George is concerned of the continued weakness in China, which he says might cause deflationary pressure. Deflationary pressure causes a damaging spiral of decreasing wages and prices on global economies and the United States.
The life of George Soros
George is the founder and chairperson of Soros Fund Management. He is also the chair of Open Society Foundations. George was born in Budapest in 1930. He was a survivor of the Nazi occupation that took place during the World War II.
George is a philanthropist. He started by providing funds to assist black students to go to Cape Town University during apartheid in South Africa. He also runs the Open Society Foundation, which operates in over 100 countries. George is the author of various books like The Tragedy of European Union. He also writes essays and articles for magazines and newspapers.