From philosopher to multimillionaire

George Soros: “I always had a strong feeling that I am an exceptional person.”

Is it possible that an ordinary trader can have an influence on the economic climate of the whole country? Trader can do anything he dares! This is the philosophy of a quite modest Gorge Soros who became immodestly well-off on Forex and went down in history of the international exchange market as “the man who broke the Bank of England.” A famous combination with the British pound made him prominent all over the world. The genius deal helped Soros to make the way from philosopher to millionaire just in some weeks.

George Soros is a son of Hungarian immigrants of Jewish background. His mother, Elizabeth Sutz came from a well-off family, while Soros’ father, Tivadar Shvartz, was not so reach but had an extraordinary mind and outstanding personality. That was a man, who went to the front on his own accord as he “did not want to lose such opportunity”, but not because of true or artificial patriotic feelings. Probably, Soros inherited his extraordinary mind, bravery and thirst for risk and interesting life from his father.

Black Wednesday – that is how was called the day of September 16, 1992. After a successful currency speculation deal, a 42-year old fantasist posed a threat to economic situation in the Great Britain. Having opened a short position for pound sterling totaling more than 10 bn US dollars, Soros earned more than 1.1 bn dollars in a day! He lost a lot during his trading career but the luck went with him. Soros’ strategy can be called a bearish one as he was selling shorts. Soros is ambiguous and contradictory person who does not favor long term investments: all his deals are of short and of speculative nature.

Being a financier by profession, Soros had passion for philosophy and even developed a theory based on the ideas of Karl Popper. It was called Theory of Reflexivity and posited that currency value is formed due to its expectations and one can put a pressure on them. However, Soros appeals to intuition and tries to develop with the help of hypnotizers. Despite a huge working experience on currency market, successful trader admits that he is still emotional about both bad and good deals. But he does not advise to give way to emotions.

Three years of economics school, internship in London Arbitrage, attempts to earn on investments and, finally, worthy life of a millionaire who can afford writing books and sharing experience, doing charitable work and even participating in the political life of the country. All this is the American dream as it is and the life of the most successful trader in Forex history George Soros.

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