George Soros: A Story For A Billion
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    George Soros: A Story For A Billion

    INTRODUCTION

    In this very story for a billion about George Soros, I will very much talk about this smart businessman who changed the financial world to become most people mentors. His quotes were exceptional, his books were inspirational, his achievements were numerous and his early career was motivating. He really struggled just like others as he worked as a waiter at one point but his hardwork made him successful at the end. Right now George soros is one of the most influential people on earth and have really made a name for himself in the financial world.



    WHO IS GEORGE SOROS?




    So many sites have talked about this man who was born in August 12, 1930 (age 88). He has a citizenship of Hungary and the United States of America. He is an investor, hedge fund manager, author and Philanthropist. He is known for managing Soros fund management, the open society foundations, advising the Quantum fund and Target of several conspiracy theories. As of November 2018, George Soros net worth is up to $8.3 billions. His spouses were named ( Annaliese witschak, Susan weber and Tamiko Bolton). He has five children and his official site is known to be (georgesoros.com).



    EARLY LIFE :

    As a teenager of 13 years old, George soros survived the Nazi occupation of Hungary which half a million Jews were killed. He worked as a courier for a Jewish council and when deportation from Hungary to death camp started during the Holocaust, he was reduced to hiding his Jewish identity just to survive.
    George survive the battle in Budapest- Hungary and then migrated to England in the year 1947. In England he worked as a waiter and a railway Porter, before he got a job in a merchant bank. There he worked very hard and earned a place in the prestigious London school of economics where he earned his B.S.C degree and P.H.D in economics and then migrated to New York city.



    GEORGE SOROS CAREER:

    George soro began to work as an arbitrage trader and made enough money for five years which really helped him so much to go England to study Philosophy. He started off his business career during 1970 and founded the Soros fund management.. At a point he had to resign from his first Eagle funds job and get on to start the Quantum funds which really made more than 5. 5 billion dollars and therefore making George soros as the most successful person in the hedge funds history. This same Quantum Fund have however generated over $40 billion since it started.

    He also used his fortune to create the Open society foundations which was a network of foundations, partners and lots of projects to over 100 countries. He has also written so many books in his name and have given out lots of scholarships. His philanthropy started in 1979, he also helped to promote the open exchange of ideas in the Communist Eastern bloc. George once stated that "My success in the financial market has given me a greater degree of independence than most other people, this allows me to take a stand on controversial issues : in fact, it obliges me to do so because others cannot.

    George Soros is now in his 80's but has continued to take an active personal interest in the open society foundations where his been travelling over the world to support it's work for positive policy changes with the world leaders both publicly and privately.

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    GEORGE SOROS AS A FOREX TRADER




    At the year 1992, this smart man called George soros pulled off a coup as he looked at the fundamentals about the British pounds 🇬🇧 and therefore predicted that the bank of England could not really support it's currency if it was aggressively shorted. He then put his money as he predicted and of course went as far as making $1 billion dollars by breaking the bank of England. It was a huge one and indeed he made lots of money through this prediction.

    His fundamental analysis was on point because it is really what triggered to huge profits he made at the year 1992. This man is a short time speculator who make highly leverage bets on the direction of the financial market. His successes is still talk of the town all over the world and most traders sees George soro as a great mentor which they could learn from.


    MY TOP 3 FAVORITE GEORGE SOROS QUOTES


    I. "it's not whether you are right or wrong that's important, but how much money you make when you are right, and how much you loose when you are wrong"

    This quote above is so inspiring and by reading this quotes, you automatically realized why risk to reward ratio in trading is very important. Knowing how to set your trade about 1:2 risk to reward ratio or more would really start helping you stay positive knowing that even with less wins, you can still end up becoming profitable. With this very quote, you might want to agree with me that George Soro was a smart man after all.




    II. "I'm only rich because I know when i'm wrong... I basically have survived by recognizing my mistakes".

    The first time I came across this quote, I basically wondered for some seconds to properly digest this quote and create good meaning out of it. This is when I realized that as successful as George Soros was, he still admitted he was never a perfect trader.
    He understood the importance of admitting it when you are wrong so that you can exit faster instead of holding onto losing positions that will end up making you to loose up your investment.

    Again by recognizing mistakes, he sees it as an important factor in his trade because if he never made mistakes he wouldn't have learnt the skills to survive in the financial market.




    III. "Unfortunately, the more complex the system, the greater the room for error".

    This quote is a reminder on why we should keep our trade simple. Many traders fail in this category by combining all types of indicators into their charts and end up confusing themselves on the approach to make profitable trades. By keeping our trade simple, there will be less room for mistakes and we can easily understand our trade to make the very best decision in forex.

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    THE 3 BIGGEST FOREX TRADES OF GEORGE'S SOROS


    I. George Soros Breaks The Bank Of England To Earn $1 Billion In A Single Day



    This day was dated on 16th September, 1992. It was also called the "Black Wednesday . This is the day George Soros made a whopping 1 billion dollars from the pounds Sterling. You might want to really ask, how did he do it?

    In 1990, the Britain was on recession but however managed to join the ERM that year. Britain inflation was a big problem as it was on a high note that British explorers preferred to be payed in the Usd when it becomes very clear that the pounds wouldn't withstand the natural market force. This made more speculators coming together to make proper plans on how they could make good profits from this very situation.

    They patiently waited till the financial situation got bad and then they added extra pressure on the pounds by selling it in huge amounts. George Soros was the most aggressive speculator who was said to made transactions every 5 minutes which made him profits each time the pounds fell in a single minute.

    After this success, George Soros once stated that " The money that I made on this particular transaction would be estimated at about $1 billion dollars. We very simply used the forward market - you borrow Sterling and you sell the Sterling that you've borrowed. And then you buy back the Sterling when the loans expires.

    The video below explains more on the tragic experience on what happened at that day which is known as the Black Wednesday.







    II. George Soros Made $790 million, From The Crashes Of Thai Baht And Triggers The Asian Crises.



    This smart man saw a possibility that the Thai baht could fall. So he went short on baht by buying long the USD/THB using forward contract. This action he took resulted to big Asian financial crises that affected almost all countries in Asia.

    This Was The Scenerio That Played Out.

    * George Soros went short on the thai baht. Thailand then spend almost $7 billion dollars to protect baht against speculations. George Soros then sell all his baht resources and went public to warn people about possible fall of baht.

    * Thailand however was forced to give up on the fixed rate of baht and allow it to float freely. Thailand asked the international monetary fund (imf) for help

    * Thailand took on the hard measures to ensure that loans was secured

    * Sooner Baht fell from 1 usd to 56 baht.

    * This is when George Soros made a whooping gain of more than $790 million dollars.




    III. George Soro Made $1.4 billion From The Fall Of Japanese Yen.



    After the devastating tsunami in 2011 and the slow economic recovery, traders where really waiting for the Yen to weaken. However this Yen started to fall when Shinzo Abe came out publicly to spoke on the need to weaken the Yen in order to boost the economy in 2012. This prompted investors to open big USD/JPY long position by betting the dollars would rise above Yen.

    George Soros rushed into this trade and allocated $24 billion dollar to this pair in 2012. Since then he has made up to $1.4 billion in this deal.

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    GEORGE SOROS NOTABLE ACHIEVEMENTS







    * A great multi-billionaire business man.

    * A philanthropist, investor, hedge fund manager, and Author.

    * Currently ranked number #30 as the richest man in the world.

    * Known as the man who broke the "Bank of England" in 1992.

    * Donated $100 million for the growth and development of regional Russian universities.

    * Donated $50 million to eradicate poverty in Africa.

    * Donated up to $7 billion to charity across the world.

    * A famous Forex trader.

    * Played a huge role in philanthropy where he donated money for black student movement against apartheid.

    * Funded worldwide efforts to promote drug policy reform in 2008.

    * Inspires others to follow his footsteps.

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    LIST OF BOOKS WRITTEN BY GEORGE SOROS


    George Soros is known to be one of the best selling author in the world, he has fourteen books written to his name and these books tells us more on how he have managed to approach investing and business. Also he shared his very perspectives on politics, economics, philanthropy, globalization and open societies.

    The Alchemy of Finance
    Released on October 19, 1987



    This book look on the practical and theories of the financial trend. This book Soros talked about his innovative investment practice and his views of the world order.




    Opening the Soviet System
    Released on February 2, 1990



    Here George soros brought up good solutions for the then crumbling Soviet Empire to integrate into the free world. He also compared and contrasts both the open and closed societies and ellaborate the superiority of the open society system in this book.




    Underwriting Democracy
    Released on May 12, 1991



    In this very book George talked on his experiences helping to bring about democratic change in Eastern Europe experiences that are especially relevant now that our country has begun to intervene.




    Soros on Soros : Staying Ahead of the Curve
    Released on August 18, 1995



    George is known to be a great financial analyst and in this book readers are given the option to know more about this man called George Soros as " The Man Who Moves Markets."




    The Crisis of Global Capitalism: Open Society Endangered
    Released on January 1, 1998



    In this very book George Soros analyzes an earlier global financial crisis and demonstrates how faulty theoretical assumptions combined with human behavior had led to the turmoil. He also went ahead to suggest what he thinks it's the remedies to the meltdown, based on his years of experience as a great financier and philanthropist.




    Open Society
    Released on November 28, 2000



    This book George soros proposes an open society alliance with the very right purpose of fostering open societies in individual countries and laying the groundwork for a global open society.




    The Bubble of American Supremacy
    Released on October 11, 2004



    In this very exciting book Soros analyzed the former American presidents Bush administration for overreaching, militaristic foreign policies.




    George Soros on Globalization
    Released on March 14, 2005



    George Soros talked more on globalization and how many institutions that have failed to keep pace with our global economy.




    The Age of Fallibility
    Released on June 26, 2007



    In The Age of Fallibility George soros brings that commitment to this Topic: "The degenerate state of America."




    The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What it Means
    Released on May 1, 2008



    Right in this book George Soros explores the origins of the 2008 crisis and its implications for the future.

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    The Crash of 2008 and What it Means
    Released on March 30, 2009



    Here in this book George soros talked about the assumption that supply and demand drive prices is only a starting point for understanding financial markets.




    The Soros Lectures at the Central European University
    Released on March 29, 2011



    In this book George Soros delivered lectures at the Central European University in Budapest as he talked about finance, capitalism and open society.




    Financial Turmoil in Europe and the United States:
    Released on February 7, 2012



    This book George Soros responds in real time to a rippling earthquake of financial instability. He also talked about the urgent need for the United States to restructure its banking and financial system.




    The Tragedy of the European Union
    Released on March 11, 2014




    George talked about the European union tragedies. In the sense that there is high need for Great Britain to hold a referendum on whether to abandon the union altogether. He also offered commentary and concise, prescriptive advice.

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    CONCLUSION




    This very story of George Soros is really an inspiring one that can motivate us to follow his footsteps and as well become a great investor and good profitable trader. We have seen the early life of George Soros as a rough one which he survived the Nazi occupation in Hungary, he moved over to England to work as a waiter, a railway Porter before landing a bank a job.

    He went further to start off his Soros fund management which of course generated the Quantum fund that made more than 5.5 billions dollars.
    His known to be an author, an investor and a philanthropist. As a trader he was known as the man who broke the bank of England where he did made $1 billion dollars from the pound Sterling. His success continued as he made more money from the crashes of Thai baht which triggered the Asian crises, and the fall of Japanese yen where he did made $1.4 billion dollars.

    Futhermore, George Soros achievement as a multi billionaire businessman is a huge feet, and currently ranked as No 30 most richest man in the world is notable. So many books have been written by him where he has talked about finance, politics and more.

    In conclusion one would see that George Soros was indeed a good investor who made huge money from speculating the market, his famous among traders and his quotes were inspiring. One would want to think what kind of man is this to have made so much money from the market.

    I hope this billion story of George Soros was motivating for you readers and sure his name will always sound to our ears when it comes to the financial world. It was indeed a George Soros story for a billion.


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