Who is george soros?
Billionaire hedge fund investor born in Hungary. Most people know him from his famous bet against the Britain Pound. It gave him the status "The man who broke the bank of England".
What happened is England decided to join the ERM (European exchange rate mechanism) in October 1990, which prevented it currency to fluctuate more than 6%. They pegged it's currency against others by intervening in the currency markets with countertrades.
This was a very unhealthy situation because Britain had some economical problems back then (high inflation and interest rates). So currency traders took notice and build up short positions against the Pound Sterling. George Soros had a short position worth more than 10 billion dollar. His total profits where over a billion dollar.
Ultimately England was forced to leave the ERM and stopped pegging their currency. The country went in a recession afterwards.
Morale of the story: the people that run governments (politicians) don't understand macro economics. George Soros was right about their currency being overvalued and it made him one of the most wealthy people on earth.
Usually the less government intervention in financial markets the better.
I like George Soros his book: "The alchemy of finance." , you can get it here on Amazon: https://amzn.to/2WJQq6R
It's not really a practical guide to make money in the stock market but a philosophical framework how investing works.
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