George Soros: A Liberal and Investing Guru

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Without doubt, when George Soros is mentioned, many people, and almost every investor on Bloomberg, recognizes him as one of the greatest investors in the world. He’s often compared to Warren Buffet. There are some differences, though. A major difference is that Buffet is more of a long time investor looking to buy and hold, while Soros is more of a financial speculator.

One of the most famous bets in the history was made by George Soros back in September 1992. At that time, he bet around $10 billion on a fall of a British Pound. When the British government decided to withdraw its currency form the European Exchange Rate Mechanism (into which a currency enters prior to joining Euro), the value of the Pound Sterling plummeted, leaving Soros with a profit of nearly $2 billion.

That wasn’t the only time when George Soros quickly made lots of money by taking advantage of financial crises. His 1997 bet on a collapse of a Thai Baht also paid off. Some even blame him for sparking that year’s Asian currency crisis.

Overall, as a manager of Quantum Funds on georgesoros.com, Soros achieved average annual returns of nearly 30%. With such an investing acumen, this Hungarian-born investor, currently residing in the United States, attained a vast wealth estimated to be around $25 billion.

Financial speculation isn’t the only thing that Soros is known for. As a Jewish boy, he had to grow up in a Nazi-controlled Hungary. This has left a profound impact on him. Soros’ political activism, supported by his vast fortune, is aimed at promoting human rights and government accountability.

At times, mingling of his foundations into the affairs of foreign states resulted in criticism. One of his organizations, Open Society Foundation, has even been banned in Russia.

Meanwhile, his recent comments about accepting millions of migrants from the Middle East and Africa into Europe, all in the middle of a current migrant crisis, have led to an outburst of further criticism, accusing George Soros of attempting to culturally and ethnically change Europe forever.

At 86 years of age, Soros doesn’t pay too much attention to his critics and pursues his liberal agenda with the aid of his billions.