A penniless survivor of the Nazi occupation of Hungary, George Soros is now one of the richest men in the world, and Robert Slater does an excellent job of helping us understand how Soros did it. . . . Slater distinguishes Soros from other great investors by explaining his mental processes . . . . He explains how Soros views markets as chaotic, not efficient, and very prone to boom-bust sequences. . . . Slater has written a fascinating volume.
The World's Most Influential Investor
- By: Robert Slatter
- Author of ....... Jack Welch andThe GE Way
- ISBN: 9780071608442
- Pages: 336 pages
- Format: Hardcover
- Publisher: McGraw-Hill Professional
- Published: 01/02/2009
- Edition: 2nd Revised edition
- Division: Professional
Overview | About the author | Table of contents
"A penniless survivor of the Nazi occupation of Hungary, George Soros is now one of the richest men in the world, and Robert Slater does an excellent job of helping us understand how Soros did it. . . . Slater distinguishes Soros from other great investors by explaining his mental processes . . . . He explains how Soros views markets as chaotic, not efficient, and very prone to boom-bust sequences. . . . Slater has written a fascinating volume."--Barron's
The highly acclaimed bestseller updated to reveal Soros' role in our new economic and political era
As a financial genius, global philanthropist, political activist, man of conscience, and the world's only investor with his own foreign policy--it cannot be denied that Soros is an enigmatic man of enormous influence. For more than four decades he has been so successful that he has been accused of directing the course of global markets and shaping the destinies of nations.
Now, in this exhaustively updated and expanded edition of his 1996 bestseller, biographer Robert Slater separates fact from fiction to get at the truth about the mysterious figure of George Soros. Working from extensive interviews with Soros and those closest to him, Slater combines compelling biographical detail with scrupulous analysis to:
- Detail how Soros made his billions as a global currency trader and stock operator
- Chronicle his role in bringing down communism and establishing open societies to Eastern Europe and the former USSR
- Demystify Soros's macroeconomic approach to investing and his oft-misunderstood theory of reflexivity
- Explore his fanatical obsession with unseating George W. Bush in 2004 and his growing involvement with left-wing political activist groups
- Reveal George Soros's strategies for surviving and thriving in the chaos of today's credit markets
He's been hailed as the 'World's Greatest Investor' and 'King of the Hedge Funds.' In the 1980s he worked tirelessly and spent lavishly to help bring down communism in Eastern Europe and establish open societies where none existed. Yet he now asserts that his life's mission is to defend democracy against capitalism and 'excessive individualism'. An avowed liberal, he's vilified on the right and admired by many on the left.
George Soros has been making headlines for more than four decades, yet he remains as much an enigma as ever--especially to those who would divine the secrets behind his phenomenal success as a global investor. Now, in this thoroughly updated, substantially expanded edition of his 1996 bestseller Soros, biographer Robert Slater goes beyond the headlines and the oft-told tales to reveal the man behind the legend.
Working from extensive interviews with Soros himself, as well as Soros's business associates and friends, Slater traces his subject's life across two continents and more than seven decades. We see Soros as a Hungarian boy whose favorite game was Monopoly; a Jewish teenager on the run from the Gestapo; an �migr� in England who waited tables and served as a lifeguard tp survive; a burgeoning intellectual at the London School of Economics with a flair for analytical philosoph; and as a new arrival to his adoptive homeland, the USA.
Slater also closely tracks Soros's meteoric rise from unsuccessful gold arbitrageur to 'The Man Who Moves Markets.' He chronicles many of Soros's financial triumphs and missteps, digging deep to provide new insights into some of his most sensational coups, including Soros's history-making move against the Pound-a play that netted him a cool $1 billion and seemingly threatened to break The Bank of England.
And in entirely new chapters devoted to Soros's political awakening, Slater describes his growing involvement with national politics during the 1990s, his role in helping to launch the liberal political action group, Americans Coming Together, his mounting obsession with George W. Bush following 9/11 and his efforts to unseat him in the 2004 election, and his widely misunderstood involvement with Moveon.org.
|About the author
Robert Slater is the bestselling author of 30 books, including Jack Welch and the GE Way, Saving Big Blue, The Eye of the Storm, and Microsoft Rebooted.
|Table of contents
Chapter 1 The World's Greatest Investor
Chapter 2 A Boy and his Parents
Chapter 3 The Cellars of Budapest
Chapter 4 Like Freud or Einstein
Chapter 5 The Blind Leading the Blind
Chapter 6 Fascinated by Chaos
Chapter 7 Invest First and Investigate Later
Chapter 8 Putting My Money Where My Mouth Was
Chapter 9 A Quantum Leap
Chapter 10 The Identity Crisis
Chapter 11 The Imperial Circles
Chapter 12 Killing of a Lifetime
Chapter 13 Philosophical Speculator
Chapter 14 A Cheap Price for Freedom
Chapter 15 An Urge to Reveal Oneself
Chapter 16 The Big Crash
Chapter 17 It Takes Courage to Be a Pig
Chapter 18 Taming the Snake
Chapter 19 'The One-Way Bet'
Chapter 20 Black Wednesday
Chapter 21 King of the Hedge Funds
Chapter 22 The Guru
Chapter 23 A Common Virus Known as Hubris
Chapter 24 I'm a Hungarian Jew
Chapter 25 The St. Valentine's Day Massacre
Chapter 26 Mr. Soros Goes to Washington
Chapter 27 Richer Than 42 Countries
Chapter 28 A Shift Toward America
Chapter 29 Financial Woes and a Foretaste of Politics
Chapter 30 George Bush in Soros's Crosshairs
Chapter 31 Investor, Philanthropist, Philosopher, and 79 Years Old
Description of Soros: The World's Most Influential Investor
George Soros gained global notoriety and power through the investing methods and tactics he used to reach the zenith of the world of finance. In SOROS: The World’s Most Influential Investor (McGraw-Hill; February 24, 2009; £17.99), biographer Robert Slater thoroughly revises and expands his 1996 bestseller and goes beyond the headlines and the oft-told tales to reveal the man behind the legend. Slater details the roots and the flowering of Soros’s abilities as a financier and money maker--through and including the subprime crisis and its long-term impact on world markets.
Working from extensive interviews with Soros himself, as well as Soros's business associates and friends, Slater traces his subject's life across two continents and more than seven decades.
Slater uncovers the brilliant techniques and remarkable insights that led to the phenomenal success of this Hungarian-born investment titan--and separates the truth from the mystery and exaggerations that surrounded him. Soros has now morphed into a controversial personality in the world of politics, adding an equally outsized chapter to his remarkable story. The highlight of Soros's entry into American politics was his 2004 attempt to keep George Bush from winning re-election.
SOROS: The World’s Most Influential Investor:
· details how Soros made billions as global currency trader and stock operator
· chronicles his role in bringing down communism and establishing open societies to Eastern Europe and the former USSR
· demystifies Soros's macroeconomic approach to investing and his oft-misunderstood theory of reflexivity
· reveals George Soros's strategies for surviving and thriving in the chaos of today's credit markets.
Press and Industry Reviews
“In his compelling, lucid, engaging, straightforward, and highly relevant Soros, Robert Slater takes you inside the mind of a global investing genius and delivers priceless, timeless, and peerless insights into Soros's financial acumen and wide-ranging altruism."
—David Darst, Managing Director and Chief Investment Strategist
for Morgan Stanley’s Global Wealth Management division
"This well-written book on Soros’s remarkable career is a must-read. It provides powerful and valuable insights into Soros the investor, philosopher, philanthropist, political activist, policy advisor, and most important, the tireless innovator who always seeks to make a difference.”
—Mohamed El-Erian, co-CEO, PIMCO, and author of When Markets Collide
Posted: Sun Jan 22, 2012 2:10 am
Games intrigued [Soros], all sorts of games. He was especially taken with one called Capital, a Hungarian version of Monopoly. From the age of seven, he played it frequently with the other children, among whom he was the best. The worst was George Litwin. It was no surprise to George's childhood friends that George Soros became a master of high finance, and Litwin...a historian. Winning at Capital all the time proved boring to young George. To liven up the game, he introduced new rules. One was to make the game more complex by adding a stock exchange. When Soros the financier returned to Hungary in the 1960s, he sought out Ferenc Nagel, who asked him what he did for a living. "You remember as children we played Capital?" Soros asked with a smile. "Well, today I do the same." [p23]
From Wikipedia, the free encyclopedia
George Soros (pron.: /ˈsɔroʊs/ or /ˈsɔrəs/; Hungarian: Soros György; Hungarian: [ˈʃoroʃ]; born August 12, 1930, as Schwartz György) is a Hungarian-American business magnate, investor, and philanthropist. He is the chairman of Soros Fund Management. Soros supports progressive-liberal causes. He is known as "The Man Who Broke the Bank of England" because of his US$1 billion in investment profits during the 1992 Black Wednesday UK currency crisis.
Between 1979 and 2011, Soros gave away over $8 billion to human rights, public health, and education causes. He played a significant role in the peaceful transition from communism to capitalism in Hungary (1984–89)—which he himself proclaimed was being exaggerated and provided Europe's largest higher education endowment to Central European University in Budapest. Soros is also the chairman of the Open Society Institute.
Soros, The World's Most Influential Investor, by Robert Slater (McGraw Hill, 2009)
The subtitle to this book on George Soros, I believe, should be “What Makes George Run?” after the title to a novel originally published in 1942. Slater does a good job presenting his subject in an easy to read and interesting biography. Yet, the book seems incomplete because a question still remains as to why Soros does what he does. It is not so much that he is an investor and a very successful one. It is why he seems driven to be a philosopher, a philanthropist, and a political mover and shaker.
As one critic remarked about the subject of the novel just mentioned, he is running “always thinking satisfaction is just around the bend.” It is like Soros has never found a way to justify his existence and so must continually search for ways to prove himself worthy. Over and over he is described as an extremely self-confident man. Yet the things he does indicate a need for something more, something that will ultimately give him satisfaction, something that will give him peace.
Soros is successful. He generously shares his wealth. He wants to do good things and contribute to good government. He wants to be known as a thinker. These are all commendable things and we should certainly hold him in respect for them. It is just that as one reads of his life, as Slater presents it, one comes away feeling that he is not completely comfortable with who he is.
People talk about how both Barack and Michelle Obama seem comfortable with who they are. That is one reason, people contend, that they can project themselves so well to others. They are not trying to be someone they are not. I do not get the same feeling when I read this book about George Soros.
From everything that is public about him, it seems Soros has legitimately earned his fortune. He has worked hard, he has taken risks, and has guessed right more often and in larger amounts that he has guessed wrong. He has set up and led several organizations and has retained talented individuals who have remained loyal and supportive of him. And, he has sustained his position at or near the top of the performance ladder for many years. He remains very, very wealthy.
His secret? Slater tries to get at this, but the best answer he can come up with is that Soros has great intuition. Soros is quoted as saying, “In the final analysis, you must rely on your instincts for survival.” Work hard, read widely, study, study, study…and then…well…? We are told that investing “is a business that doesn’t necessarily lend itself to logical, rational thinking. It’s an intuitive process.”.......................................