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George Soros: Quantum Fund
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George Soros, the founder of the Quantum Fund, is one of the most successful hedge fund investors ever. A $100,000 investment in his fund when he started in 1969 would've been worth $150mm by 1994. Soros's most famous investment was when he "broke the bank" in England by betting billions against the British pound on "Black Wednesday" in 1992. Forbes has Soros ranked at 27 in its "richest in America" list with a net worth tipping the scales at $8.5bb.
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George Soros, the financier promoting "open societies," provoked a heated debate by saying that Kazakhstan was facing the harsh choice of either pursuing its authoritarian course or taking the road toward genuine democracy. According to Soros, rampant corruption, restrictions on civil liberties, and the draconian laws on non-governmental organizations and extremism currently being debated in parliament signal Kazakhstan's retreat to "Uzbek-style" authoritarian methods of securing public order. He said it would be more judicious for Kazakhstan, in order to avoid the Uzbek path to bloodshed, to evenly distribute public wealth among the population, including profits from the oil business (Delovaya nedelya, June 17). The criticism from Soros came as a surprise, as the business conference was expected to focus on global investment opportunities in Kazakhstan. But due to a combination of adverse circumstances, it coincided with the parliamentary debate over the draft law that makes it mandatory for non-profit and international organizations to notify the authorities about planned public events, conferences, and rallies 10 days in advance. Additionally, the draft law insists that representatives of local governments and law-enforcement authorities must be present at events held by non-profit organizations. Just before the international business conference opened, legislator Tokhtar Nurakhmetov called on Foreign Minister Kasymzhomart Tokayev to address the problem of non-profit organizations "funded by the U.S. Embassy and OSCE" interfering in Kazakhstan's internal affairs (Yegemen Qazaqstan, June 16). It is obvious to everyone what political factions stand behind Nurakhmetov, whose name had hardly been mentioned before in parliamentary debates.
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George Soros is facing new, possibly criminal investigations into his hostile hedge-fund-centered speculation against Asian currencies and stock markets. Despite the best efforts of the mouthpieces of Wall Street and London to spiff up his public image, as the contagion of Soros-style financial hit-and-run attacks spreads to Taiwan and Hongkong, and continues to devastate the weakened nations of Southeast Asia, these nations are aggressively organizing, bilaterally, regionally, and internationally, to put this looting on the agenda of every major intemational meeting through the end of 1997.
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Money managers like Warren Buffett, George Soros and Richard Aster have consistently beat the market over extended periods of time. Warren Buffett, from 1965-2005, has produced an annual average return of 21.5%, which is double the return of the S&P 500 - including dividends - over the same period of time. George Soros - the man that broke the Bank of England - generated an annual return of 30% through his Quantum Fund from 1970-2000, nearly three times the average return of the S&P 500.
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Democracy: George Soros is known for funding groups such as MoveOn.org that seek to manipulate public opinion. So why is the billionaire's backing of what he believes in problematic? In a word: transparency.
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Newsweek: The speaker of the U.S. House of Representatives, Republican Dennis Hastert, suggested to Fox News that Soros's fortune may come from international drug cartels. A column on the Web site of the conservative group GOPUSA (after the Republican Party's nickname, the Grand Old Party) called Soros "Satan" and "the Hungarian-born descendant of Shylock." Rightmarch.com charges in a new radio spot that Soros is funding an all-out drive "to undermine American sovereignty, to lose in Iraq and to drop the war on terror." Says the announcer: "After buying the Oval Office, Soros plans to subvert America's morals and trash our values."
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