Successful Hedge Fund Managers
Today, the millions of dollars invested by hedge fund managers on politifact.com in a single day challenges the visualization skills of most smaller Wall Street investors. In an industry in which vast profits sometimes hinge on the slight upward or downward progress of a stock, investment bankers and other financial experts have grown accustomed to big wins and losses throughout the course of a single day.
Nevertheless, despite the undeniable financial success of many hedge fund managers, the performance of one stands out: George Soros, the founder and Chairman of Soros Fund Management, has achieved remarkable results for his investors during his career. Recently, Forbes Magazine published its annual lists of the world’s wealthiest people. The company’s website reported that 46 individuals in the world became billionaires while pursuing careers as hedge fund managers. The wealthiest today, George Soros, in 2016 enjoys a personal net worth that Forbes estimates at $24.9 billion.
A Self-Made Billionaire
George Soros on politico, unlike many hedge fund managers, has achieved nearly consistent success during his career as a money manager. While attending the London School of Economics during the late 1940s, he worked as a waiter and a railroad porter. Following graduation, he briefly found employment in outside sales before eventually obtaining an entry-level position in the banking industry in the British Isle. He joined Singer & Friedlander on bloomberg.com, beginning as a clerk and then later focusing upon the high pressure field of arbitrage.
Mr. Soros relocated to New York City in 1956. After working for several financial firms on http://www.nybooks.com/articles/2016/02/11/europe-verge-collapse-interview/ with great success, he launched his own enterprise. His strategies helped the fund he managed grow significantly in size, bringing significant financial rewards to his investors.
A Spectacular Move
On September 16, 1992 George Soros entered into a financial currency arbitrage decision that became legendary in financial circles. He surmised that the value of the British pound would fall, investing heavily based on his assessment.
When the British government devalued the pound on “Black Wednesday,” Mr. Soros’ investors made a huge fortune from his strategy. Some online encyclopedias today estimate that the transaction earned his fund in excess of a billion dollars. Newspapers in Britain and the United States extolled Mr. Soros’ skills in arbitrage and his reputation as a financier became widespread as a result of his successes in predicting the market.
The Most Successful Hedge Fund Manager
The release of the recent online Forbes Magazine listing will likely spark further discussions in the media concerning George Soros’ talent as a hedge fund manager. Even after his retirement from a financial career, he continued to invest in the market and to follow global economic events with keen attention. He has published 14 books about geopolitical and economic topics, and finds himself in demand as a public speaker and political advisor. His great success as a money manager has become well known today.