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George Soros

George Soros

George Soros, is a Hungarian-American investor, business magnate, philanthropist, political activist and author. Soros is one of the world's most successful investors. As of February 2018, Soros had a net worth of $8 billion, after donating $18 billion to his philanthropic agency, Open Society Foundations.

Soros was 13 years old in March 1944 when Nazi Germany occupied Hungary, In 1947, Soros immigrated to England and became a student at the London School of Economics. While a student of the philosopher Karl Popper, Soros worked as a railway porter and as a waiter, and once received £40 from a Quaker charity. Soros earned a Bachelor of Science in philosophy in 1951, and a Master of Science in philosophy in 1954, both from the London School of Economics.

He began his business career by taking various jobs at merchant banks in England and then the United States, before starting his first hedge fund, Double Eagle, in 1969. Profits from his first fund furnished the seed money to start Soros Fund Management, his second hedge fund, in 1970. Double Eagle was renamed the Quantum Fund and was the principal firm Soros advised. At its founding, the Quantum Fund had $12 million in assets under management, and as of 2011 it had $25 billion.

He is known as "The Man Who Broke the Bank of England" because of his short sale of US$10 billion worth of Pound sterling, making him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis.

George Soros has written many books, articles, and papers on economics, finance, stock trading, and geopolitics. Soros's writings focus heavily on the concept of reflexivity, where the biases of individuals enter into market transactions, potentially changing the fundamentals of the economy. Soros argues that different principles apply in markets depending on whether they are in a "near to equilibrium" or a "far from equilibrium" state. He argues that, when markets are rising or falling rapidly, they are typically marked by disequilibrium rather than equilibrium, and that the conventional economic theory of the market (the 'efficient market hypothesis') does not apply in these situations.

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