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Tuesday, November 5, 2013

George Soros wins with Extreme Networks (NASDAQ:EXTR)

George Soros
Today’s daily gainers are Extreme Networks, Inc (NASDAQ:EXTR), Alpha Natural Resources, Inc. (NYSE:ANR), Realogy Holdings Corp (NYSE:RLGY) and daily losers are Ryanair Holdings plc (NASDAQ:RYAAY), International Tower Hill Mines Ltd. (NYSEMKT:THM), LightInTheBox Holding Co Ltd (NYSE:LITB).
George Soros wins with Extreme Networks

Kicking off the week on top of our daily gainers list is Extreme Networks, Inc (NASDAQ:EXTR). The energy company shot up +15.81% ($6.22) after apparently having knocked it out of the park with its earnings report. Billionaire George Soros holds more than 9.2 million shares, representing 0.35% of his fund. The investor paid an average price of $2.48 per share.

Following Extreme Networks is Alpha Natural Resources, Inc. (NYSE:ANR). The energy stock increased +9.79%, reaching $8.16, after the company informed a new plan to cut $200 million in expenses. This was well received-news for John Paulson, who owns four million shares (0.15% of his fund). The billionaire paid an average price of $8.16 per share.


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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.