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In a bitter blow for hopes of a strong recovery in the UK economy it has been revealed that retail sales in January were the worst for 15 years. While headline sales increased by 1.2% year-on-year,...
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Thursday 26th March 2009
George Soros has a reputation which very much goes before him with the 78-year-old Hungarian investment manager noted as one of the sharpest financial minds in the world. His investment funds have consistently outperformed the vast majority of investment managers across industry and he has been highly successful on a number of very large and potentially risky financial "bets". However it is George Soros’s prediction of the ongoing economic crisis some time ago which has now caught the eye of many observers.
While it has to be said that Soros had predicted a similar economic downturn on two earlier occasions, he has most certainly been proved correct with his latest prediction. Like most hedge fund managers, George Soros has the opportunity to make money when markets are moving higher and make money when markets are moving lower. However, few have managed to create a billion-dollar industry which surrounds the investment sage even in his later years of life.
Still famous as the man who won a multibillion-dollar bet with the Bank of England and predicted a fall in the UK currency some years ago, this is not the only highly successful investment operation he has carried out. Thankfully for investors in his various funds, George Soros had already adjusted his funds some time ago to withstand the ongoing economic crisis. It would appear that even at the ripe old age of 78 George Soros could still teach today's hedge fund managers a thing or two. |
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