Native of Hungary, George Soros learned all his survival instincts from his father during the German occupation in World War II. They were Jews., so my father took out false documents and found places, where can you hide. It was a man, worthy of respect; in World War I, he was captured by the Russians and subsequently escaped from prison. Soros's conclusion: “Obedience has become a dangerous addiction; to survive, need to bypass the law”. And he himself confesses, what does not accept the rules, superimposed by others. He was accused of going beyond fair play in trading and stocks, and currencies.
Constrained by the communist regime, established after World War II, Soros in 1947 left for the UK, where he studied at the London School of Economics. After working for a while as a traveling salesman, he found a job at a financial institution. Although Soros gained some arbitration experience, he mostly did boring office work, did not shine and, with the blessing of the company, Left. New York became his target, but he couldn't get a work visa, because I was too young, to be a specialist in any field. This was a requirement to enter the United States.. Therefore he “bypassed” the law and got myself an official certificate, which asserted, that arbitration experts should be young, because they die young; and the government let him in.
Soros ended up starting his own hedge fund.. His investment methods ranged from solid research to pure instinct.. Soros once said: “… I suffered from back pain. I used the onset of acute pain as a signal, that something was wrong in my portfolio”. It was that back pain – 10.000 Doll., invested by Soros in 1969 year, turned into more than 2,8 million dollars. in 1988 year. They say about Soros, that he has three investment techniques: “1. Start Small. If things go, build up a big position… 2. The market is stupid, so don't try to be omniscient… 3. The speculator must determine the first level of risk, to which he is ready to go”. Some understanding about, what could go wrong, Soros gives, diagnosing crash 1987 of the year, in the essay “After Black Monday”. One of his findings: managing monetary policy a critical global issue in preventing stock market crashes and downturns.
After Black Monday(1987)
Stock market crash 1987 the year became an event of historical significance for the world economy. Crashes are comparable to him 1893, 1907 And 1929 yy. However, the fall 1929 the most widely known and in many ways the most significant. When comparing, but, need to be careful, so as not to confuse the crash itself with its consequences.
During the October crash 1929 year, prices on the New York Stock Exchange fell by about 36 percent on the Dow Jones index for industrial stocks; this number is almost identical to the fall, what happened in October 1987 of the year. After the fall 1929 years, shares have recovered almost 50 percent of their losses, then dropped by another 80 percent in a prolonged bear market with 1930 on 1932 yy. It is this Bear Market, associated with the Great Depression, dominates the public imagination. And precisely because, that he is so well remembered, his story is unlikely to repeat itself. Immediate American Government Response to Crash 1987 years already confirms this idea. After 1929 years, the governing monetary institutions made an important mistake, providing too little liquidity and thus being unable to withstand the fall in the money supply.
Now the danger is, that the pressure to escape the recession, especially strong in a presidential election year, can force the authorities to provide too much liquidity and, thus, further undermine the value of the dollar.
Technical failure 1987 years is incredibly similar to collapse 1929 of the year. The main difference is, what in 1929 year, the first sales climax was followed a few days later by the second, which pushed the market down to a lower low. IN 1987 year of the second climax was avoided; and even if the market is destined to hit new lows in the future, model will be different..
Collapse 1987 the year came just as unexpectedly, like a crash 1929 of the year. The worldwide boom in stock markets was considered equally unfounded and unsustainable, but few people were able to correctly predict a sudden turn of events. I got hit just as badly, like any other. I was convinced, that the collapse will begin in Japan. It turned out to be a costly mistake.
Most compelling similarities between collapse 1929 years and collapse 1987 of the year – insufficiently appreciated by senior officials and the public – both incidents showed an ongoing historic shift in financial and economic power in the global economy. IN 1929 the United States was in the process of replacing Britain as the world's leading economic power. IN 1987 power spilled over from the United States to Japan's Asian economic superpower. Collapse 1987 of the year will be remembered as a signal event of this process, and also as a harbinger of a change in the international financial order. It has provided dramatic evidence of the growing inconsistency of the global financial system, based on a volatile and depreciating reserve currency – US dollar.
In retrospect, it is easy to reconstruct the sequence of events., led to the collapse. The stock market boom was fueled by the growing mass of dollars; then liquidity contraction created preconditions for collapse. In this respect 1987 the year also resembles a year 1929: remember, what a crash 1929 the year was preceded by an increase in interest rates on short-term borrowing for transactions with shares.
How exactly did the liquidity contraction occur in 1987 year – this is a more difficult question. A definite answer will have to wait, until enough research is done. But it's clear, that international efforts to prop up the dollar were critical – namely through the Louvre Agreement, signed in february 1987 years by the finance ministers of the leading industrial countries, called the Group of Seven – England, Of Canada, France, Of Italy, Japan, United States and West Germany. Months after the Louvre Accord, the dollar was protected by sterilized intervention in financial markets, in which domestic interest rates remained intact. When the G7 central banks found, that they should buy more dollars, than they could swallow, they changed their tactics. After that, how then Japanese Prime Minister Yasuhiro Nakasone visited Washington in April 1987 of the year, the interest rate differential between the United States and other countries was allowed to widen to such an extent, where the private sector abroad wants to hold dollars. Banks have essentially privatized the intervention.
It remains unclear, what exactly – sterilized or non-sterilized intervention – actually caused a decrease in liquidity. Sterilized intervention moved large sums of dollars to central bank vaults abroad, and the Board of Governors of the Federal Reserve System, maybe, inadvertently failed to dump equivalent amounts into the American domestic money market. Maybe, Monetary authorities in Japan and West Germany were afraid of the inflationary consequences of unsterilized intervention, and their attempt to constrain their national money supply led to a worldwide increase in interest rates.
I prefer the last explanation., although I cannot exclude the possibility of that, that the former also contributed to the restriction of bank credit. West Germans – supporters of strong anti-inflationary policies. The Japanese are more pragmatic; they, actually, allowed their interest rates to fall after Nakasone returned to Tokyo. But, when the japanese saw, that politics “lungs” money only reinforced unhealthy speculation in financial assets, including land, they changed their mind. The government tried to slow the growth of Japanese domestic money supply and bank credit, but speculation is already out of control. Even after, how the Bank of Japan began to tighten its monetary grip, bond market prices continued to go up. Consequently, benchmark yield of Coupon bond issue #89 fell to historic lows: 2,6 percent in May the day before, how the bond market crashed.
The collapse of the Japanese bond market in September 1987 of the year became the first of a chain of events, which will enter the annals of history as a collapse 1987 of the year. Investors speculated massively in September bond futures, but could not liquidate their positions. Hedging against these losses led to a sharp drop in December futures prices. Coupon Issue Yield #89 climbed higher 6 percent before, how the bond market bottomed out. At first it seemed, that the crash will move on stock market, which was even more overrated, than the bond market. But in reality, speculative money moved from bonds to stocks in a vain attempt to recoup losses.. As a result, the Japanese stock market reached insignificant new highs in October..
The consequences for the rest of the world were sadder. Government bond market in the United States acquired dependence on Japanese purchases. When the Japanese started selling U.S. government bonds, even in relatively small quantities, the bond market has entered a period of decline, exceeding any changes, justified by the fundamental parameters of the economy. Undoubtedly, the american economy was stronger, than expected, but this force was channeled into industrial production, and not to meet consumer demand. The prices of goods went up, encouraging an increase in stocks and raising inflationary expectations. Fear of inflation was more of an explanation for the decline in bonds, than its root cause. However, it served to increase the decline in the bond market..
Weakness in bonds has widened the inequality between bond and stock prices, which developed, starting from the end 1986 of the year. This inequality can persist indefinitely., how it was in the 60s, but as it expands, it creates the preconditions for a possible reversal. Actual turnaround time depends on other circumstances. This time political considerations played a major role.: Reagan has lost his political brilliance, and elections were approaching 1988 of the year. When the downward pressure on the dollar resumed, internal volatility in the stock market turned the decline into a stampede.
The first crack has appeared, when the highly popular Wall Street guru technical market analyst Robert Prechter before the market opened 6 October published a bearish signal. The market responded with a resounding fall on 90 points. This indicated underlying market weakness., but similar incidents occurred in 1986 year, and without disastrous results. This time the situation worsened because, that the dollar also began to weaken. On Tuesday 13 October, Chairman of the Board of Governors of the Federal Reserve System Alan Greenspan announced, what the trade balance demonstrates “extraordinary” structural improvement. Therefore, the data, published on wednesday 14 October, showed an improvement in the trade deficit by only half of that, what was expected, seemed especially disappointing. The dollar has experienced serious selling pressure.
Following the course of unsterilized intervention required an increase in interest rates, which should have grown larger due to earlier increases in Japan and West Germany. The American authorities did not want to undertake such a tightening; and Thursday 15 October, when the stock market continued to decline, Treasury Secretary James Bay-ker, as reported, put pressure on Bonn to lower West German interest rates, threatening the dollar with an even bigger fall. Stock market decline continued to accelerate amid messages, that the House of Representatives Committee on Budget Implementation was planning to limit tax reductions on risky “throwing” bonds, issued on the purchase of companies with financing from loans. Although the position was rejected the next day, 16 October promotions, whose prices have risen in anticipation of mergers or acquisitions with financing from loans, fell so much, which forced professional arbitrage traders to liquidate margin accounts.
Then on Sunday, from 18 October, room “New York Times” a sensational editorial appeared. Treasury officials allegedly openly defended the weaker dollar and blamed the West Germans in advance for the stock market crash., which these statements helped to speed up. IN “Black Monday” 19 October, some selling pressure was already inevitable due to the volatility accumulated in the stock market; but this article in “Time” had a dramatic effect, reinforcing the pre-existing instability. The result was the largest one-day decline in history.: the Dow Jones industrial stocks fell by 508 points, or 22,6 percent of its value.
Analysts, usually, view the stock market as a passive reflection of investor expectations. But in fact he is an active force, their formative. Supposed, that investors' expectations are more rational, but it is impossible to be rational in the face of true uncertainty. The more uncertainty, the more investors, probably, will see some signals in the stock market. In its turn, the more of their investment decisions are made in an attempt to keep up with market trends, the more unstable the market itself becomes. Reliance on market trends has resulted in its logical conclusion in portfolio insurance programs. Portfolio insurance and other schemes to strengthen the trend, for example, stock and index options, in theory, allow individual participants to limit their risk at the cost of increasing the instability of the system. Practically, when such schemes are used by too many people, the system breaks down. 19 October, just such a breakdown occurred. The market has become disorganized, and panic reigned……
Dossier, which follows below, based on the report of the EIR bureau (Executive Intelligence Review) in Wiesbaden in Germany, Published 1 October 1996, which is called “Summary of mega-speculator George Soros”.
Journal “Time” characterized the financier George Soros as “modern Robin Hood”, who robs the rich, to give to the poor countries of Eastern Europe and Russia. It stated, that Soros makes a huge financial profit, speculating against Western central banks, and uses this profit to help the post-communist economies of Eastern Europe and the former Soviet Union, to help them create, what does he call “Open Society”.
Person, who broke the Bank of England?
Analyzing Soros's secretive financial network is vital, to understand the true dimension “Soros problems” in Eastern Europe and other countries.
After the crisis of the European Exchange Rate Mechanism in September 1992., when the Bank of England was forced to abandon efforts to stabilize the pound sterling, a little-known financial figure emerged from the shadows, Stating, what did he personally do 1 billion. $ on speculation against the British pound. The speculator was a Hungarian-born George Soros, who waited out the war in Hungary under false documents. Soros left Hungary after the war, and received American citizenship after several years, held in London. Soros is based in New York today., but that says little about, who is he and what is he.
Following his impressive ownership claims “Midas touch”, Soros allowed his name to be publicly used in a clear attempt to influence global financial markets.
Soros loudly announced in March 1993., that the price of gold should rise sharply: he said, what just got “inside information” about that, that China is going to buy massive amounts of gold for its booming economy. Soros was able to generate demand for the purchase of gold, which allowed prices to rise by more than 20% in four months, to the highest level since 1991. And what is typical for Soros, when the simpletons rushed to buy, pushing prices higher, Soros and his friend Sir James Goldsmith began secretly selling their gold at great profit.
Then, early June 1993. Soros announced his intention to trigger a sell-off of German government bonds in favor of the French. In an open letter to the editor of London “Times” Anatoly Kaletsky, Soros stated “Down with a D-mark!” At various times, Soros attacked the Thai currency, Malaysia, Indonesia and Mexico, entering newly opened financial markets, having little experience with foreign investors, which allows alone, having large financial resources, manipulate currency. Soros starts buying marketable assets in the local market, leading others, who naively assume, that he knows something, what they don't know. As in the case of gold, when small investors start to follow Soros, pushing prices up, Soros starts selling, doing your 40% or 100% arrived. Then he moves on to another market, and often, and to a new country, looking for another target for their speculations. This technique is called “hit and run”.
Soros is the visible side of a vast, secret network of private financial interests, ruled by the leading aristocratic and royal families of Europe, centered at the British House of Windsor. This network, called by its members “Islands Club”, was created after the collapse of the British Empire after the Second World War.
Instead of using the powers of the state to achieve their geopolitical goals, this network was developed based on private financial interests, tied to the old aristocratic oligarchy of Western Europe. the center of this “Club of the Islands” is a financial center – London. Soros is one of those, who was called in the Middle Ages – Court Jews, “Jewish Court”, which was, deployed with aristocratic surnames. The most important of these “Jews, who is not a Jew” are the Rothschilds, thanks to whom the career of Soros began.
Soros is American only by passport. He – global financial operator, which the, Happens, falls in new york, just because there is money. Soros speculates on global financial markets through his offshore company “Quantum Fund NV”, private investment fund. His hedge fund, reportedly, operates approximately 11-14 billion $ of investor funds, the most prominent of which, according to Soros, is British Queen Elizabeth.
Fund secret “Quantum Fund NV”.
“Quantum Fund” registered offshore in the Netherlands Antilles in the Caribbean. It helps to avoid taxes, and also hide the true nature of his investors and then, what does he do with their money.
Soros took care, so that none of 99 frequent investors, who participates in his various foundations, was not american. Under US Securities Act, the hedge fund must include no more than 99 wealthy investors, so-called “sophisticated investors”. Setting up your investment company as an offshore hedge fund, Soros avoids public scrutiny.
Soros himself is not even on the board “Quantum Fund”. He is legally an investment advisor “Quantum Fund” from another company “Soros Fund Management” in NYC. On the board of directors “Quantum Fund NV” also there is not a single American citizen. Its directors are Swiss, Italian and British financiers.
Understandably, that Soros and Rothschild prefer not to advertise their relationship, as well as his connections in London are not advertised, British Foreign Office, Israel and American influential circles. That's why, a myth was created, that Soros is financially lonely “genius”, who, thanks to his talent for detecting future changes in the markets, became one of the most successful speculators. According to those, who did business with him, Soros never takes important investment steps without meaningful information from an insider..
To the board of directors “Quantum Fund NV” Enter Richard Katz, being Rothschild's man, who is also on the board “London N.M. Rothschild” and is the head “Rothschild Italia S.p.A.” in Milan. Another liaison with the Rothschild family is another board member “Quantum Fund” Nils O'Taube, partner of the London Investment Group “St. James Place Capital”, the main partner of which is Lord Rothschild.
Frequent business partner of Soros in various speculative cases, including gold manipulation in 1993., although not associated with “Quantum Fund” directly, is the Anglo-French speculator Sir James Goldsmith, cousin of the Rothschild family.
From the very first days, when Soros created his own investment fund in 1969., he owed his success to his relationship to the banking network of the Rothschild family. Soros worked in New York in the 1960s for a small private bank with close ties to the Rothschilds., namely “Arnhold и S. Bleichroeder. Inc.”, bank surname, representing the interests of Rothschild in Germany during the Bismarck era. To this day “A. and S. Bleichroeder. Inc.” remains the main holder, as well as “Citibank”, Funds “Quantum Fund” Soros. George K. Carlweiss, associated with the infamous “Rothschild Bank AG” in Zurich gave Soros part of the start-up capital and brought the first investors to his “Quantum Fund”.
Rothschild patronage.
Soros' attitude towards the Rothschild financial circle is not accidental. We'll have to make a little excursion into history, to explain the extraordinary success of a simple private speculator, and Soros's strange ability “play right” so many times in such high-risk markets. Soros has access to “inside information” in some of the highest government and private offices in the world.
Since World War II, the Rothschild family tried to form a public myth about their own insignificance. The family spent substantial sums, creating the image of a wealthy family, but quiet “gentlemen”, some of whom prefer to make fine French wines, some of whom are dedicated to charity. They were involved in the creation of Israel and other high-profile projects., but apart from such public shares, there were also not so specious deeds, which the family prefers to keep away from their headquarters in London, and conduct through their lesser-known branches, Sort of “Zurich Rothschild Bank AG” And “Rothschild Italia of Milan” – bank of Soros partner Richard Katz.
According to reports from former CIA officers, familiar with the Soros case, his “Quantum Fund” accumulated capital (more 10 billion $), with the help of a powerful group “quiet” investors, which allowed Soros to build up capital, to disrupt financial stability in Europe in September 1992.
Soros is one of several important tools for the economic and financial struggle “Club of the Islands”. Since his connection with their interests was not previously highlighted, it serves extremely useful functions for the oligarchy, how in 1992 And 1993 years, when he launched his attack on the European Exchange Rate Mechanism.
Although Soros's speculations played a significant role in the final withdrawal of the British pound from the Exchange Rate Mechanism, it would be wrong to regard his actions as “anti-british”. Soros began his education in London, where he studied under Karl Popper and Friedrich von Hayek at the London School of Economics.
Soros's business ties with Sir James Goldsmith and Lord Rothschild brought him closer to the Thatcher wing of the British establishment.. Helping the UK exit the European Exchange Rate Mechanism in September 1992. and along the way earning more than 1 billion $, Soros helped the Thatcher wing's long-term goal of weakening the economic stability of continental Europe. Since 1904, it was a British geopolitical strategy – counteract, no matter what, any economic ties between the economies of continental Europe, this is especially true of Germany's ties with Russia and the countries of Eastern Europe.
Soros and Russia
In the late 1980s, a number of Soros foundations were established in Eastern Europe., helping to promote democracy and free markets there. In the USSR in 1988 The Cultural Initiative Foundation was established to support humanitarian projects. IN 1992 year to support fundamental natural sciences in the former republics of the USSR, the International Science Foundation was created. IN 1995 year in Russia, a representative office of the Open Society Institute began its work.
Back in the Gorbachev era, an American published a book in Russia “Soviet system: path to an open society”. In it, he rather outspokenly preached the benefits of individualism and the market economy..
In post-Soviet Russia, Soros moved to more active actions. About $100 he spent million on grants for talented representatives of fundamental sciences. For many scientists, in the absence of budgetary funds, Soros's money became the only serious source of livelihood.. Truth, others accused the philanthropist of “theft” Russian brains and even espionage. Really, Scientists, working at the expense of Soros, had to report to the fund on the work done.
Other high-profile actions of the billionaire in Russia were the support of domestic libraries and the introduction of the Internet into research institutes.. Soros was not interested in business on the territory of our country.. In one of the interviews, published in 1996 year, he answered negatively to the question about the possibility of investing in Russian business. Spoke, what such an investment would cause “ethical controversy” between his business interests and charity.
And a few months later, Soros forgot about these promises and suddenly took part in a business acquisition. And in what!
It was the participation of the billionaire that helped Vladimir Potanin become the owner 25% Shares “Svyazinvest” at the notorious auction in July 1997 of the year. From this deal, Recall, started “war between oligarchs and deputy prime ministers”: Berezovsky and Gusinsky – On the one side, and Potanin, Chubais and Nemtsov – with another.
Much is still not clear in this act of Soros.. Has he invested real money in the deal?? And how did it happen, that he turned out to be “on one side of the barricades” with Anatoly Chubais, whom he disliked. In his new book “open society: a new look at the crisis of global capitalism” Soros called Chubais a man, which the “sold my soul to the devil”.
The enemies of the American after the story of “Svyazinvest” steel Vladimir Gusinsky, about which Soros spoke very warmly in his book Soros on Soros, and Boris Berezovsky, with whom the billionaire communicated closely back in 1996 year. Soros even claims, what it was he who advised Berezovsky to arrange in the then presidential elections “antizyuganov front” oligarchs.
Soros spoke in detail about his meetings with Berezovsky in the same book. “open society…”: “I tried to convert it from extortionate capitalism to normal. He, in its turn, tried to use me in the fight for the chair “Gazprom”… In June 1997 he invited me to Sochi, to meet with Viktor Chernomyrdin… After the meeting, Berezovsky took me on his private plane to Moscow.. On the way he spoke, as Chubais, and Nemtsov support his candidacy. I did not believe it and asked Nemtsov himself. He heard about it for the first time. “Only over my dead body”, – he reacted.
Then I dined with Berezovsky at his “club”, trimmed (I don't know, intentionally or not) under a gangster hangout, how it is usually portrayed in Hollywood films. I was the only one invited. I did not pass on the words of Nemtsov to him., but said, what Nemtsov claimed, as if he knew nothing about Berezovsky's claims to the chair “Gazprom”. Berezovsky got very angry. He didn't say it directly, but made it clear, that I betrayed him. It was a turning point in our relationship”…
IN 2000 Soros named investing in Russia one of his biggest mistakes. This is with the lost billions on the Internet and euros.
According to published data, J. Soros spends an average of about 300 million. Dollars, what, undoubtedly, is a huge amount. Also undeniable, that these funds have a noticeable social benefit: for example, many Russian scientists received Soros grants and were able to continue their scientific work.
About that, that a powerful organization is behind Soros is clearly evidence of the, that he is often the spokesman for the interests of a number of large financial structures in their relations with the national governments of different countries.
For example, during the financial crash in Brazil at the end 1998 – the beginning 1999 yy. it was Soros who spearheaded efforts to rescue the funds of large Western portfolio investors operating in the local market. Soros-owned investment funds were among the largest lenders in Brazil, however J. Soros spoke on behalf of all major Western corporations, operating on the Brazilian market and negotiating on an equal footing with the governments of different countries.
Soros's plan began to be implemented in early February 1999, after that, how the IMF's plan to rescue the Brazilian economy failed because of the real collapse, under which it was supposed to provide Brazil with loans with a total volume of 42,5 billion. Dollars.
Primarily, Arminio Fraga was appointed head of the Brazilian Central Bank, (Arminio Fraga), previously in charge of the aforementioned Soros Fund Management for the Quantum group of funds, Quantum emerging markets growth fund. One of the first measures of the new head of the Central Bank was the removal of restrictions on Brazilian banks to attract loans from foreign credit organizations.. If before that Brazilian banks could attract foreign loans in the total amount 3,5 billion. Dollars, then after the restrictions were lifted, it increased to 55 billion. Dollars.
Simultaneously J. Soros convened a press conference in Davos, where he called on the IMF and the seven industrialized countries not only to continue, but also to accelerate the issuance of previously promised loans to Brazil, and also advised private banks to join this effort. He argued his point of view by, that the most favorable moment has come for Western banks to establish their control over the industry and banks in Brazil. Overall plan worked well: the positions of Western investors were maintained and strengthened, and the fall of real is stopped.
The given example of influence on the government of a large country is far from the only one.. So, in June 1992 Soros organized a meeting of the "liberal" ministers of the Italian government with a group of major British bankers. During the meeting, in secret from the public, a plan was developed for the privatization of a significant part of Italian state-owned enterprises in the interests of a narrow group of financiers.. The plan was subsequently carried out.
He is currently chairman of the Open Society Institute and founder of the charity network., operating in more than 50 countries. Settling mainly in Central and Eastern Europe and the former Soviet Union, and also in Africa, Latin America, Asia and the USA, these funds focus their activities on building and supporting open society infrastructures and institutions. They work closely with the Open Society Institute on a number of programs., aimed at the development of civil society, education, media, health and human rights, as well as reforms of social, legal and economic. In recent years, the Open Society Institute and the Soros foundations network have contributed more than 400 million US dollars to support projects in these and other areas. IN 1992 Soros founded the Central European University in. Budapest. He currently actively supports the American University of Central Asia and occasionally visits it personally..
And finally,…
“Absolutely not important, are you right or wrong. Only that matters, how much money do you earn, when right, and how much money do you lose, when you're wrong.” Prominent American financier, investment business. Founder of hedge funds “Quantum”, “Quantum immersion grouse”, “Quota” etc., as well as a large number of charitable foundations in 26 countries of the world. author Books “The Alchemy of Finance”, “Soviet system: towards an open society”, “Voting for democracy”. US Real Estate Owner, UK and other countries. Billionaire holder. Soros has had ups in his financial career, and falls. So, playing in september 1992 years on the pound / dollar exchange rate, in just a day Soros earned $2 billion. During 1993 year, Soros's speculative income amounted to $1.1 billion. On the other hand, in August 1998 years Soros lost in Russia $2 billion, and on the fall NASDAQ in the spring 2000 years - almost $3 billion. Soros mainly specializes in currency speculation. He gets all the information he needs from ordinary newspapers., never using Wall Street analytics. Soros does not believe in technical analysis, and his investment decisions are based on confidence in the chaos of financial markets. Stock prices, bonds and currencies depend only on people, who buy and sell them. In its turn, traders often act under the influence of emotions, and not in accordance with a pre-adopted trading strategy. The fortunes are made in the stock market. $1, invested in Quantum Fund in 1969, standing now $4000
