George Soros Prediction in the Financial Markets
George Soros founded and also chairs the Open Society. It is a network that has projects and partners in more than a hundred countries. His commitment to the open society makes the private philanthropy unique from any other. They have ensured that the rights of all are respected, accountability of the government, and also ensures that no one has a monopoly on the truth.
Soros Philanthropy began back in 1979 and at that time he was giving scholarships to South Africa when it was under apartheid. After the Berlin Wall fell George Soros created Central European University to promote grave thinking.
George Soros later expanded his philanthropy to other places, America, Asia, Africa and has helped many paralegals and lawyers to represent thousands of individuals have been unlawfully detained. Soros Foundation has provided many schools and universities fees to thousands of students including refugees and those from marginalized communities.
George Soros was pivotal in the establishment of an international system on www.georgesoros.com/essays/ that would ensure all industries involved in natural resources would be accountable and transparent. This ensures that all companies working with tyrant are stopped so as to guarantee peace and avoid unnecessary wars. He has also contributed in helping Institute of New Economic Thinking.
George Soros success in the financial market on https://en.wikipedia.org/wiki/Soros_Fund_Management has been remarkable and has given him greater independence. This has also made him take stands on controversial issues that others cannot.
George Soros is well known after he gained international notoriety 1992 after risking ten billion dollars on a single currency speculation. He was right and on a single day of trade made a profit of one billion dollars. It was later said that his profit would have reached two billion dollars. George Soros is famously referred as the man who broke the Bank of England.
During that time when Soros made the profit the market expected the Britain would devalue its currency, and there would be no amount of interest rate hikes, or currency purchase would change. This sentiment caused investors to speculate, and it came to be they were correct. The British financial history commonly refers to the incident as “Black Wednesday”. However, for George Soros, he says that the incident should be referred to as “Awesome Wednesday”. When the Britain currency was floated the pound fell 25% versus the US Dollar and 15% versus the Deutschmark.
Soros Quantum Fund had approximated the pound to fall against other currency. The value of the fund increased instantly from $15 BN to $19 BN. After a few months, the fund value rose further to be worth $22 BN. Soros has been dedicated in the business sector and indeed he has used his success in philanthropy and promoting fairness to all.
The full article can be found at ValueWalk.