George Soros expertise in Market securities and bonds drawn him to flood his U.S stock investment by betting almost a third of his total shares while banking on gold. The massive investment by Soros Fund Management in Gold at Barrick Company t reduced their shares by 37% to $3.5 Billion in the first quarter of 2016. Soros Fund Management holds a significant stake in the bearish options contracts after trading the ownership of SPDR 500 EFT Trust an amount of $2.1 Million that raised the U.S index value at $431 Million. Soros Fund increased overwhelming on SPDR Gold after purchasing Bullish options contract at the value of 1.05 million shares giving SPDR the mandate to monitor the price of Bullion.
Soros experience in financial markets proved to be a master in the market forecast; Soros alarmed the danger of risks associated with stanching from China due to its devaluation of its currency giving the indication of debt flooded economy similar to Crisis witnessed in 2007 and 2008. Thus, China should focus on consumable commodities and service delivery.
According to Bloomberg, Soros Fund Management was able to raise approximately 20% annually cumulatively from 1969 to 2011 and the firm has a Net worth of $27.3 billion across the Capital Structure. From the market analysis and wagers, Soros was able to raise $24Billion before leaving his daily management of Soros Fund Management to start his Philanthropic work in 1979.
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George Soros was Born in 1930 and brought up in Hungary where later he escaped into England in1947 during Second World War and Studied Economics from London School. He got his first Job at Investment Bank at an entry-level position and later moved to the United States of America. George Soros worked for a various investment firm and managerial position including Wertheim & Co. for almost 20 years.
Soros gained an international reputation in the year 1992 when he showcased his prowess by raising $1Billion within a short-time investment that forced Britain Pound to exit ERM and decrease their Currency. George Soros was running a Quantum fund up in the year 1973 that evolved into Soros Fund Management after investing $15 billion hedge fund in the market that resulted into Britain currency being floated in the market thus favoring Soros giving him a brand name “A man who broke Bank of England” according to investopedia.com.
In 1980, Soros paid most of his attention to the establishment of Open Society Foundation and became the Chairman. Open Society Foundation was formed under affiliates, an umbrella of foundations that held more projects across the world for over more than 100 countries. He communicated about his passion for political activism through lecturing in a various institution in the U.S. Through the Open Society Foundation; Soros took an interest in expressing his concern for issues dealing with Human rights, freedom and in education by giving vast sums for support. See: http://www.forbes.com/sites/adamsarhan/2016/05/17/george-soros-sells-stocks-buys-more-gold-why-investors-should-care/#424edb785c39