Wednesday, September 23, 2009
Category: News & Politics
Dubai is the Biggest Real Estate Bubble in The World George Soros Crash crisis bust bubble burst economy Max Keiser Peter Schiff Jim Rogers Marc faber gerald celente world Iran UAE emirates nakheel persian gulf palm artificial island sea real estate and Emirates Airline bankrupt bankruptcy bailout Abu Dhabi Doha Qatar KSA Saudi
Wednesday, September 9, 2009
Some derivatives should not be allowed to trade at all George Soros
Buffett isn't the only big name investor where he has credit-default swaps. Soros has joined the chorus of outrage. (Bloomberg News)
Business, Economy, Stock Market
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.
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