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Saturday, July 4, 2009

George Soros on The Financial Crisis in Chinese CCTV 11 june 2009

George Soros had a debate on a Chinese channel called CCTV he touched several topics ranging from the economic crisis his investment strategy and how he makes money even in the crisis , why he decided to end his retirement and restart working , his charity , he also spoke about his ex partner Jim rogers and their similar investments strategies also he spoke about Warren buffet and his totally different approach to investing , different but not less efficient and successful...he also talked about China its banking system that seems not having been touched by the financial crisis yet....


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George Soros was born in Budapest, Hungary, in 1930. His father was taken prisoner during World War I and eventually fled from captivity in Russia to reunite with his family in Budapest. Soros was thirteen years old when Hitler's Wehrmacht seized Hungary and began deporting the country's Jews to extermination camps. In 1946, as the Soviet Union was taking control of the country, Soros attended a conference in the West and defected. He emigrated in 1947 to England, supported himself by working as a railroad porter and a restaurant waiter, graduated in 1952 from the London School of Economics, and obtained an entry-level position with an investment bank.

In 1956, Soros immigrated to the United States, working as a trader and analyst until 1963. During that time, he developed his own theory of markets called 'reflexivity', which he has laid out in his recent books THE ALCHEMY OF FINANCE and THE CREDIT CRISIS OF 2008 AND WHAT IT MEANS. In 1967 he helped establish an offshore investment fund; and in 1973 he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds, through which he accumulated a vast fortune.