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Title: Soros on Soros: Staying Ahead of the Curve by George Soros ISBN: 0-471-11977-6 Publisher: John Wiley & Sons Pub. Date: 04 August, 1995 Format: Paperback Volumes: 1 List Price(USD): $27.95 |
Average Customer Rating: 4 (17 reviews)
Rating: 5
Summary: Very interesting!!
Comment: Self-made billionaire immigrant George Soros talks about his biography and views on finance, philosophy, politics and other things. The book is structured as a series of interviews, and easy to follow for people who are ignorant on the subject of finance and investing. Very down-to-earth and strong person and a role model for prospective entrepreneurs.
Rating: 4
Summary: Good Insights from a Financial Guru
Comment: George Soros is unquestionably one of the finest investors of our time; his returns over the life of his Quantum fund have put the random-walk theory to shame. In this book, which is essential a long interview, Soros expounds on his market philosophies and political views. Personally, I found this book better structured and more informative than his previous book, "The Alchemy of Finance."
As the book begins, Soros goes into the details about how he founded and runs his fund. He started as a trader, then an analyst, then created a model portfolio that he managed as a sales tool for when he talked to his clients. He left his firm and started his hedge fund at age 43, with $12M in 1973. In 1981, retired from active management and hired other fund managers to run the Quantum fund.
When running the fund, he is a macro investor, since he claims he's better at picking the tide rather than surfing the smaller waves in the markets. He tends to form an opinion on the direction of a currency, stock market, or interest rates, then trades within the view he set.
Soros also describes his market philosophy, which he described previously in "Alchemy of Finance." His concept, dubbed reflexivity, claims that market's movements influences people's perceptions, but since people trade based on their biased perceptions, they in turn influence the market. The result is that perceptions and market movements co-evolve, and may drift away from the fundamentals and, in some cases, change the fundamentals. The result is familiar boom-bust patterns, such as trend-following behavior in markets followed by crashes. As a result, Soros follows trends, but remains alert for signs of reversals.
Soros is also a major philanthropist, and has created foundations to spread open societies into Eastern Europe. There is a significant portion of the book devoted to his political work, however I found that less interesting, not because his views aren't valid or well articulated, but because I bought the book primarily to learn about Soros' work in finance.
Overall, I found this a good read in finance. Although you won't come out with 10 sure-fire stock tips for your 401(k), this book is certainly a must for Soros fans, or any intrigued investor who would like to learn from one of today's most successful financiers.
Rating: 1
Summary: The Life & Times of Convicted InsideTrader
Comment: George Soros was convicted of inside trading in December 2002. He engaged in inside trading of Societe General stock.
"Mr Soros and three other defendants, the court found, bought Societe Generale stock when it was cheap, and cashed in their investment when the price rose after the bid became public.
Two other businessmen implicated in the scandal - Edmond Safra and Robert Maxwell - have since died."
Maxwell killed himself after his billion dollar scam/business was exposed. He dove off his huge yacht off the coast of France. He left behind billions in debts and thousands of British workers lost their pensions. Soros is known by the people he associates with.
It is not to hard to "stay ahead of the curve" when you trade with inside information.
For more details - go to the BBC news web site and search for Soros insider trading or Google and type Soros BBC insider trading.
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Title: The Alchemy of Finance by George Soros, Paul A. Volcker ISBN: 0471445495 Publisher: John Wiley & Sons Pub. Date: 25 July, 2003 List Price(USD): $19.95 |
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Title: George Soros on Globalization by George Soros ISBN: 1586481258 Publisher: PublicAffairs Pub. Date: 05 March, 2002 List Price(USD): $20.00 |
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Title: SOROS: The Unauthorized Biography, the Life, Times and Trading Secrets of the World's Greatest Investor by Robert Slater ISBN: 0786312475 Publisher: McGraw-Hill Trade Pub. Date: 01 May, 1997 List Price(USD): $16.95 |
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Title: Soros: The Life and Times of a Messianic Billionaire by Michael T. Kaufman ISBN: 0375405852 Publisher: Knopf Pub. Date: 19 February, 2002 List Price(USD): $27.50 |
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Title: The Crisis of Global Capitalism: Open Society Endangered by George Soros ISBN: 1891620274 Publisher: PublicAffairs Pub. Date: 02 December, 1998 List Price(USD): $26.00 |
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