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Sunday, November 17, 2013

George Soros - Third Quarter Selling Streak

The recent update of the Soros Fund Management portfolio, led by legendary Guru George Soros , lists 232 stocks, 91 of them new, with a total value of $9.14 billion, and a quarter-over-quarter turnover of 24%.

George Soros is averaging a 12-month return of 23.96%.

Guru Soros made more than 80 decreases in his third quarter activity. Here's a review of three sells made by George Soros , starting with Citigroup Inc., reporting revenue of $17.9 billion for the third quarter of 2013, up from $13.7 billion in the same quarter a year ago. The global bank's quarterly net income was $3.2 billion, compared to $468 million in the same quarter of 2012. Third quarter 2013 earnings were reported as $1.00 per diluted share, up from $0.15 in the same quarter one year ago.
George Soros

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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.