Born in Budapest, 89-year-old George Soros survived Nazi occupation of Hungary and emigrated to the United Kingdom in 1947. He attended the London School of Economics and graduated with both an undergraduate and graduate degrees.
Soros began his business career by taking various jobs at merchant banks in the United Kingdom and then in the United States, before starting his first hedge fund 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 to Quantum Fund and became the principal firm Soros advised. At its founding, Quantum Fund had $12 million in assets under management, and as of 2011 it had $25 billion, the majority of Soros’s overall net worth.
Soros is known as “The Man Who Broke the Bank of England” because of his short sale of US$10 billion worth of pounds sterling, which made him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis. Based on his early studies of philosophy, Soros formulated an application of Karl Popper’s General Theory of Reflexivity to capital markets, which he claims renders him a clear picture of asset bubbles and fundamental/market value of securities, as well as value discrepancies used for shorting and swapping stocks.
Don’t miss the next edition of One America News Investigates to learn more about George Soros’ role in Ukraine to promote the phony Russia collusion charge, and how he tried to undermine Brett Kavanaugh’s nomination to the Supreme Court. Tune in Saturday, November 9th and Sunday, November 10th at 10PM EST / 7PM PST — only on One America News!