George Soros is a titan in the financial market watch. When he speaks, many listen because he is a voice of reason in the financial industry. George Soros has the authority to speak on matters finance thanks to his background in the financial world. He has built a reputation as a master trader with a Midas touch. So good is he at trading that he belongs to the 30.30 club. It is a club shared by the legendary investor William Buffet.
It is a breed of traders who have averaged 30% returns in 30 years.
Many analysts have tried to explain the success of George and Buffet by saying they took advantage of the technological gap. But whatever explanation they use, it is impossible to discount the reality that these two have worked wonders in the stock market.
They have been called the .400 hitters in the stock exchange. It is a baseball analogy for a successful pitcher in a baseball pitch who runs the entire field. It is a near impossible feat, and George Soros has attained it.
Many experts have put out forward a theory saying getting the likes of Soros is impossible in the current market conditions. Years of accumulating wealth have brought highly educated players into the stock exchange. These players have turned it into a hobby and have developed highly sophisticated trading models that are operated using computer software. These fast switching algorithms mean only the best can trade successfully.
It all started in 1992 after the fall of the Soviet Union. The military industrial complex could no longer accommodate the thousands of highly educated mathematicians and physicists. They were forced to move on and found a handy place in the stock market.
Here they have developed complex trading software’s that have changed the market. It has made companies that make billions on the tiniest of the inefficiencies. Companies like Renaissance Capital are legends in this arena.
George Soros was born in Hungary in 1930.It was an unfortunate time when the Nazis were gaining power in Germany. In 1941, they invaded Hungary. Being of Jewish Origin, Soros and his family had to flee to London to avoid the Holocaust. Here Soros embarked on a self-improvement career which saw him join the London School of Economics.
Soros later left for New York to start a career as a stock analyst. In 1969, he started Soros Fund Management. It is a firm that till 2001 registered 30% average returns. The record was broken in 2002 but still averaged 12 % returns.
In 2011, Soros retired from hedge funds and silently retired in his home. His son currently runs the firm. He has big to shoes to fill given the legacy his father leaves behind.
George Soros is an avid Democrat. He believes Hilary Clinton will win hands down in the upcoming election. Soros has also heavily criticized Donald Trump for his call to deport Mexicans and bar Muslims from the USA.
George currently runs the Open Free Society and Open societies foundations. They are meant to spread democracy and human rights ideals all over the world.
Recap from Market Watch.