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Friday, September 20, 2013

George Soros and David Einhorn love these Stocks

By Meena Krishnamsetty and Matt Doiron
In August, billionaire David Einhorn's Greenlight Capital and billionaire George Soros's Soros Fund Management filed their 13Fs for the second quarter of 2013 with the SEC, disclosing many of their long equity positions as of the end of June. Despite the inherent delay in 13Fs- which sometimes causes market 
watchers to claim they have little utility for most investors—we've actually found that the most popular small cap stocks among hedge funds earn an average excess return of 18 percentage points per year, and we think that more strategies are possible as well. Our own small cap portfolio based on our monkeying strategy outperformed the S&P 500 by 29 percentage points since inception in August 2012.
http://www.marketwatch.com/story/george-soros-and-david-einhorn-love-these-stocks-2013-09-09?link=MW_latest_news
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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.