Green Energy
The man is dirty and we all know it. He's an anti-semitic Jew who turned in his own during World War II. Ain't that right Gyorgy Schwartz?
from The Daily Mail:
'I'm having a very good crisis,' says Soros as hedge fund managers make billions off recession
George Soros said the current economic crisis has been the culmination of his life's work
By Mail Foreign Service
Last updated at 5:13 PM on 25th March 2009
A hedge fund manager who predicted the global credit crunch has said the financial crisis has been 'stimulating' and the culmination of his life's work.
George Soros, who predicted the global financial crisis twice before, was one of the few people to anticipate and prepare for the current economic collapse.
Mr Soros said his prediction meant he was better able to brace his Quantum investment fund against the gloabal storm.
But other investors failed to take notice of his prediction and his decision to come out of retirement in 2007 to manage the fund made him $US2.9 billion.
And while the financial crisis continued to deepen across the globe, the 78-year-old still managed to make $1.1 billion last year.
'It is, in a way, the culminating point of my life’s work,' he told national newspaper The Australian.
Soros is one of 25, top hedge fund managers from across Wall Street who have defied the credit crunch crisis to reap a total of $11.6billion (£7.9bn) last year.
The managers made their profit by trading above the pain in the markets, according to Institutional Investor’s Alpha Magazine.
Former maths professor James H. Simons, who has made billions in hedge fund Renaissance Technologies, earned $2.5 billion running computer-driven trading strategies.
And John A. Paulson, who made his fortune by betting against the housing market, came in second earning $2 billion.
The managers made the profit in a year when losses were recorded at two of every three hedge funds and when hedge funds lost an average of 18 percent, according to the New York Times.
Two of the three managers who tied for ninth place, at $250 million, are based in Britain and include David Harding of Winton Capital and Alan Howard of Brevan Howard Asset Management.
Another Brevan Howard employee Christopher Rokos also made the list.
The profit comes at a time when the U.S Government is scrutinising Wall Street pay and when hedge funds are facing proposals for new taxes on their gains.
Despite the global financial crisis, the combined pay of the top 25 hedge fund managers still managed to top every year before 2006.
Mr. Paulson said his pay was high, partly because he is the largest investor in his fund and that he did not receive a bonus.
He said the the pensions, endowments and other institutions which invest in his fund do not object to the profits he and his team make.
'In a year when all their other investments lost money, we’re like an oasis,' he said in the Times.
'We have investors who were invested with Madoff, and they can’t thank me enough.'
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Green Energy
Soros Having a Very Good Crisis
The man is dirty and we all know it. He's an anti-semitic Jew who turned in his own during World War II. Ain't that right Gyorgy Schwartz?
from The Daily Mail:
'I'm having a very good crisis,' says Soros as hedge fund managers make billions off recession
George Soros said the current economic crisis has been the culmination of his life's work
By Mail Foreign Service
Last updated at 5:13 PM on 25th March 2009
A hedge fund manager who predicted the global credit crunch has said the financial crisis has been 'stimulating' and the culmination of his life's work.
George Soros, who predicted the global financial crisis twice before, was one of the few people to anticipate and prepare for the current economic collapse.
Mr Soros said his prediction meant he was better able to brace his Quantum investment fund against the gloabal storm.
But other investors failed to take notice of his prediction and his decision to come out of retirement in 2007 to manage the fund made him $US2.9 billion.
And while the financial crisis continued to deepen across the globe, the 78-year-old still managed to make $1.1 billion last year.
'It is, in a way, the culminating point of my life’s work,' he told national newspaper The Australian.
Soros is one of 25, top hedge fund managers from across Wall Street who have defied the credit crunch crisis to reap a total of $11.6billion (£7.9bn) last year.
The managers made their profit by trading above the pain in the markets, according to Institutional Investor’s Alpha Magazine.
Former maths professor James H. Simons, who has made billions in hedge fund Renaissance Technologies, earned $2.5 billion running computer-driven trading strategies.
And John A. Paulson, who made his fortune by betting against the housing market, came in second earning $2 billion.
The managers made the profit in a year when losses were recorded at two of every three hedge funds and when hedge funds lost an average of 18 percent, according to the New York Times.
Two of the three managers who tied for ninth place, at $250 million, are based in Britain and include David Harding of Winton Capital and Alan Howard of Brevan Howard Asset Management.
Another Brevan Howard employee Christopher Rokos also made the list.
The profit comes at a time when the U.S Government is scrutinising Wall Street pay and when hedge funds are facing proposals for new taxes on their gains.
Despite the global financial crisis, the combined pay of the top 25 hedge fund managers still managed to top every year before 2006.
Mr. Paulson said his pay was high, partly because he is the largest investor in his fund and that he did not receive a bonus.
He said the the pensions, endowments and other institutions which invest in his fund do not object to the profits he and his team make.
'In a year when all their other investments lost money, we’re like an oasis,' he said in the Times.
'We have investors who were invested with Madoff, and they can’t thank me enough.'
- Stupid Is As Stupid Does? Then ....
Sneaky and secretive for concrete reasons is as „„Soros Returns Capital, Avoids Dodd FrankBOSTON (TheStreet) — George Soros, the billionaire hedge-fund manager and philanthropist best known for breaking the Bank of England in 1992, will return capital...
- Your Money's No Good Here
US Recovery Is Far Off, Banks Are 'Basically Insolvent': Soros From CNBC: The healing of the banking system and housing markets is crucial to recovery. "The banking system, as a whole, is basically insolvent," Soros said.What's more, the...
- Jim Cramer Shorting Stocks, Manipulating Markets, Saying The Sec Doesn't Understand
From Huffington Post (bet you'd never see that name here, huh?)In light of the current economic crisis, and withthe hullabaloo ignited recently by Jon Stewart over the accuracy of CNBC's reporting, we thought it might be useful to revisit this...
- Indymac Bank Sale Proves Two Things: We're At The Bottom, And We're Being Screwed!
From Reliapundit at the Astute Bloggers: THE GOOD NEWS IS THEY'RE BUYING, NOT SELLING: AP: A seven-member investor group including billionaire George Soros and Dell Inc. founder Michael Dell have agreed to purchase failed lender IndyMac Bank, one...
- Nyt : Soros The Prophet
The Face of a Prophet By LOUISE STORY George Soros will not go quietly. At the age of 77, Mr. Soros, one the world's most successful investors and richest men, leapt out of retirement last summer to safeguard his fortune and...