A recent news and article posted on the Value Walk News show how the great investor, George Soros made a prediction in the economic market and won. Soros Hedge Fund and other investors borrowed lots of money which they used on betting. George Soros predicted that the British Pound was to lose versus other currencies. The British Pound would lose its worth, and no amount of interest or buying of the pound would reverse it value.
The prophecy came to pass as Britain removed from ERM and its currency lost value on http://www.georgesoros.com/philanthropy/. On Wednesday 16th September 1992, at 7:30 Pm, Lamont made an announcement about Britain floating its’ pound and exiting the ERM. This was the long awaited news to confirm the prophecy made by Soros. This day of Wednesday is commonly referred to as the ‘Black Wednesday.’
To George Soros, this was an “Awesome Wednesday.” The British currency loses 25% to the Dollar and 15% to the Deutschmark once it floated. After, the worth of the fund increased immediately. It rose from $15 billion to $19 billion and after several months, its value was estimated to be $22 billion. And according to George Soros, that’s how one becomes a billionaire. Soros became famous become for his prediction on the pound.
George Soros gained his expertise from the prestigious school of Economics. After graduation, he joined the investment bank in London. George Soros was lucky to be admitted to the high-class school as an immigrant. He had fed Budapest, Hungary following the oppression rule at that moment. Later in 1956, he moved to the United States where he held several senior positions in various companies. Soros is affiliated to the F.M. Mayer from 1956 to 1959, Wertheim &Co. 1959 to 1963 and Arnhold & S.Bleichroeder 1963 to 1973.
Apart from being an economist, George Soros is also a writer who has written several essays and books; he’s known for his philanthropic work throughout the world and is a human rights activist. In 1973, George Soros decided to venture into his own business and founded the Hedge Fund Company. He managed the firm, and it later became one of the most respected and known Quantum Fund. The Fund has had huge returns and in some years posting more than 100% profit.
For his philanthropic work, George Soros introduced Open Society Foundations in the year 1979. According to him, the free societies were founded on the fact that the world is imperfect, and it can be improved. He gave scholarships to black African students from South Africa to pursue their education abroad. The open societies Foundations is spread to more than 100 countries in the world.
George Soros, having had a troubled childhood, has dedicated his life and success to helping others who are less privileged, especially into getting a better education. He braces the controversial issues, and his philanthropic ventures have been the subject of external attacks. Just the other day, an activist hilariously failed to infiltrate the OSF after exposing his intentions over undisconnected call.
Read more: BUSTED: Conservative prankster James O’Keefe exposes his own ‘sting’ on George Soros group