George Soros Directs Fund to Gold and Away from Stocks

Soros Fund Management is the hedge fund established by George Soros, with a worth of over $30 billion it provides for the necessities of the Soros family. George Soros was the man who earned $1 billion for himself managing this same fund when he saw an opportunity occurring in which he foresaw the British Sterling Pound losing a great deal of its value. He made a play in the Forex market in 1992 betting that the Pound would lose value against other currencies. This move which is common whenever trading currencies, because traders can take positions on either side of the trade without having to resort to the more complicated puts and shorts of the stock market. His sage investments earned him and his company $ billions but he also earned the ire of the British banks, and he gained the derisive sobriquet of “Bear”.

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The investment strategies of George Soros have been gained from living in three very different cultures in his life. He grew up in Hungary during the Second World War and saw the horrendous conflict first hand. Soros moved to England for his education and an introduction to the financial world of London. Finally, he moved to the United States of America and began working and succeeding in the financial arena.

George Soros has achieved great success and used his money well to begin the Open Society Foundations; that works to correct political injustices around the world. The word on the street thanks to the Wall Street Journal was that Soros had left the running of his financial empire to others but then came a signal that he saw opportunities in gold and gold mining; why buy the product when you can buy the producer. He has spoken eloquently about another economic crisis similar to 2007-2008, warning that the immigrant crisis could adversely affect all of Europe and the rest of the world. He continued to warn the world about the slowdown of the Chinese economy which seems to be driving the world economy. But the most calamitous news from the Soros fund was that American stocks were being sold, and no other stock positions were taken in their place. This is the worst of financial news for the American economy. Perhaps the election will take minds away from this possible debacle, but now, at least for George Soros, the writing is on the wall and he alone is able to read it.

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