Trying to keep up with 86-year-old George Soros is hard work. Soros has more name tags than you can count, and more energy than people half his age. There’s no question about the fact that Soros is smart. He graduated from the London School of Economics with a degree in philosophy. He’s been a refugee, a waiter, an apprentice and he is currently a business magnate, hedge fund manager, speculator, philanthropist, political activist, and author. George Soros is well-known around the world for establishing the Open Society Foundation, and for being one of the major contributors to the Democratic Party in the United States.
Mr. Soros is called upon to speak at economic summits, and he weighs in on issues like the migration crisis, the health of the European Union. George Soros is at the top of his game, and he’s not slowing down. New information has surfaced that Soros wants the Pope to temper his opinions of man-women marriages and abortions. But the big news that has the investment world talking is his reentry in the hedge fund world. Soros is back buying and selling assets and that is big news.
The Soros Management Fund sold three key biotech companies, iShares Nasdaq Biotechnology Index Fund, Gilead Sciences, and Novavax, in the second quarter of 2016 at http://latino.foxnews.com/latino/politics/2016/03/10/billionaire-smackdown-george-soros-funds-effort-to-stop-trump-mobilize-latinos/. Those companies are still considered good investments by other investors, however. The Soros Management Fund is a family only fund, but it is a very high-profile fund, and Soros is the main attraction. The Soros fund also bought 10 new companies when the fund dumped the biotech firms. The Soros investment in the gold market made the most noise in the industry, but his bet that China is going to use capital reserves to keep their banking system solvent may be his biggest challenge. George Soros is filled with wisdom when it comes to the economic and financial disasters that are in progress in China .If China does use billions of dollars in capital reserves over the next three years, the yuan will have to be devalued on the foreign exchange market. If that happens, it could be a replay of the big win Soros had in 1992, when the pound sterling lost value against the dollar.
China warned Soros not to place that bet because the central bank has promised to keep their currency stable. But Soros knows that the economic situation in China is creating bad debt for the banks, and the government will have to bail those banks out at some point in the future.
It seems like a day in the life of George Soros is never boring. He has the world in his hands and he’s not letting go anytime soon.