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George Soros. The person every trader must know about.

Financier, philanthropist, and famous trader George Soros celebrated his 90th birthday last year. His fortune currently exceeds $8 billion. Let's find out how “the most intriguing investor in the world” started his journey.

George Soros was educated at the London School of Economics. During his studies, he worked as a waiter, apple picker, factory worker, porter, and traveling salesman. In 1953, he got a job at the investment company Singer & Friedlander, and three years later he moved to America and got a job at the investment firm F.M. Mayer, where he came up with and implemented new work methods. In 1963, Soros started working as a financial analyst at the leading investment company Arnhold & S. Bleichroeder, where he rose to vice president.



Ten years later, he and Jim Rogers founded a fund, later called Quantum. The fund carried out speculative transactions with securities, currencies, and exchange commodities and achieved great success. Soros' personal fortune by the end of 1980 was estimated at $100 million, and Institutional Investor magazine named him the world's greatest fund manager. Over the years, Quantum has experienced ups and downs, but in total it has generated $32 billion for its investors.



Soros' aggressive tactics were quite risky. That path usually leads to either incredible success or large losses.


Once we realize that imperfect understanding is the human condition, there is no shame in being wrong, only in failing to correct our mistakes - George Soros

One of the investor's most flawed decisions was to close all his positions and cash out during Black Monday in 1987. Before "Black Monday" the annual profitability of Quantum was 60%, but a week later the fund had turned unprofitable.



The operation to reduce the British pound on September 16, 1992, which brought George $1 billion, is considered a famous victory of his. Soros began to be known as "the man who brought down the Bank of England.