George Soros Brings Home The Bacon: A Recap In Recent News: Not A Motley Fool

Retired billionaire and hedge fund manager, George Soros still holds a large position in the stock market. With over 4.6 million dollars of funds under management, it is no surprise that investors pay attention to what he is buying or selling.

Quite recently in 2016, Soros sold his holds on iShares Nasdaq Biotechnology Index Fund, Gilead Sciences, and Novavax. Other investors took a strong interest in these transactions. There was a setback in the pharmaceutical market in 2015 due to drug price increase. However, it is expected to have a rebound in 2017, after the presidential election. George Budwell explains Soros’ decision to sell out of the pharmaceutical market on August 28th, 2016 in his Motley Fool Article on Soros.

So why did Soros do this? That is something for your inner investor to consider, but Soros surely did not do this not without reason. The hedge fund business is, well, a risky business. Soros’ fund started as a family office investment group. Later, it turned into a hedge fund; which by definition means to take risky chances of investments with (hopefully) a large capital gain. This means for a man that is worth 24.9 billion dollars and returns 30% excess a year, he is a professional risk taker.

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A Quick Biography of Soros

Soros graduated at the London School of Economics in 1952. Shortly after, he obtained a job at Wall Street brokerage firm F.M. Mayer. Finally, in 1973 he set up his own hedge fund known as the Soros’ Hedge Fund, Quantum Fund, or Quantum Fund Endowment. George Soros has lived and breathed economics for all of his adult life. His legacy of money management is not only impressive but also runs parallel with his humanitarian ambitions. His many humanitarian organization wins the hearts of many individuals. The complete biography of Soros can be found at Biography.com.

Soros’ Open Society Foundation
Since George Soros has an exorbitant amount of money he has the power to take a stand against controversial topics, which may be difficult or career threatening for others. He also feels a personal obligation to take a stand and help those who can’t help themselves. One action, Soros’ Open Society Foundation offers are scholarships to minorities whom can’t afford university. Soros truly is a monumental man.

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