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Sunday, June 23, 2024

How did George Soros lose his money

Not everyone knows the fact that in the career of the great investor-speculator, George Soros, there were trading operations much larger than his famous deal on the British Pound, but they had a minus sign. This happened in 1997, when George Soros bought a stake in the then well-known Svyazinvest company, but as it turned out later, this mistake cost him $ 2 billion. This led to the fact that the money that the great investor earned from the fall of the Pound was transferred to Russia. But this was not the last money that Soros invested in the Russian economy. He also invested $ 1 billion in charity in Russia.

In 2000, George Soros lost about $ 3 billion in a NASDAQ decline that he had never expected. Interestingly, few people remember the loss of 5 billion, but everyone remembers that George Soros managed to make 2 billion on the decline of the British Pound. But even this is not remarkable, but remarkable is that Soros’s initial capital was $ 600, but over a period of about 10 years he managed to make $ 100 million of them. He is one of the few who pioneered the use of arbitration rules in trading.

But this is not the end. “Nonsense of a crazy nature” – this is how George Soros marked the Japanese Yen deal, which brought him 40 million US dollars within 1 day, when the currency gave a movement of 1600 points. George Soros’s career included times when he earned sums equal to the annual GDP of the countries of Guadeloupe or Chad. The bulk of his income came from his investment funds, which he later formed in 26 countries around the world. Maybe in the 20th century Soros had problems in investments, but in the 70s and 80s the markets were exclusively subject to his investment decisions.

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