George Soros is known for his philanthropic and investment work. He has created a dynasty in both worlds. Soros started out in investment and was then able to turn to philanthropy because of his success in investments. Soros first worked as a traveling salesman and sold goods in Welsh seaside resorts. He then got a job in London with Singer and Friedlander. He credits getting this job to the fact that the managing director was, like Soros, from Hungary. Soros worked at the merchant bank for 2 years. First he was a clerk and he then was transferred to the arbitrage department.
In 1956, Soros decided to move to the United States. He got a job with a former co-workers father at F.M. Mayer. Soros served as an arbitrage trader and specialized in European stocks. 3 years later, he moved to Wertheim and Co. Soros served as an analyst of European Securities. Soros then moved on to Arnhold and S. Bleichroeder. He served as a vice president at this investment firm and during this time he also started developing what became the 12 million dollars that Soros Fund Management was based on. It was 17 years after he moved to the United States that Soros decided it was time to found his own investment fund. During his time at the helm of Soros Fund Management, George Soros was able to create record breaking results for himself and for his clients.
Because of all of this success, the opinion of George Soros is taken very seriously by investors and analysts alike. When Soros recently stated his concern for the global economy, Bloomberg dove further into the story to see what exactly Soros was saying. The article summarized Soros’ concerns that he shared at a Sri Lankan economic forum. Soros stated that investors need to be cautious because the global markets are facing a crisis that is very similar to the one that happened in 2008. Soros went on to explain that because of China’s recent struggles, it is causing a strain on the global economy.
The article went on to show startling numbers from various volatility indexes. The index that measures the cost of protections on shares in Japan showed an increase of 43 percent in 2016. There was a 13 percent increase in the Chicago Board Options Exchange Volatility Index. And treasury bonds are expected to increase in price by nearly 6 percent. The article then went on to explain how the situation in China is only causing the numbers to worsen. The weakness in the world’s second largest economy is continuing after the government cut interest rates.