George Soros had stopped trading. However, in the recent days, he has been spending much of his time in the office trading. Whenever his fund incurs losses, Soros is known to spend much of his time alone in his office. However, this time around, his interest in investing has been brought about by his anticipation of a global economic crisis. George Soros has sold his stocks and invested in gold. In most instances, people purchase gold because it has little fluctuations compared to stocks.
With the exit of his top investor, Scott Bessent, Soros must have been forced to take up the role of investing. To this end, he is more involved in the process of investment compared to when Scott was still working for the Soros Fund Management. Scott left to found his own firm, which he named Key Square Group. Soros enlisted the services of Ted Burdick to be his chief investment officer. Mr. Burdick’s background is in distressed debt, arbitrage and different types of trades.
People close to George Soros posits that he has made a comeback to trading after a long period of his absenteeism in trading. Soros Fund Management manages approximately $30 billion on behalf of Soros’ family. The fund made the decision to purchase gold and sale its shares given the opportunity for large market moves in the global economy. In an email, Soros noted that China would be facing economic and political crisis in the form of capital flight and lack of lasting reforms respectively. In addition, Soros was concerned of the different crises happening in EU as they may threaten the unity of the European Union leading to its collapse.
George Soros Trading Again
About George Soros
George Soros is a survivor of the Nazi occupation. During his time in Budapest, Soros was able to survive the Holocaust. However, in order to be safe, he flew to England. Upon arrival, Soros attended the prestigious London School of Economics. After graduating from the institution, he flew to the United States. Here, he was employed in the Wall Street. Soros was able to learn much on investments and decided to establish his own venture, an international investment fund. Under his management, the fund grew and expanded its operations in different parts of the globe. This way, Soros was able to make a huge fortune.
Through his success in investing, Soros became wealthy and founded both the Open Society Foundation and the Soros Fund Management. Through the Open society foundation, Soros managed to fund different initiatives around the globe including helping South African students attend university of Cape Town.
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