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Soros on Soros: Staying Ahead of the Curve
 
 

Soros on Soros: Staying Ahead of the Curve [Kindle Edition]

George Soros
4.0 out of 5 stars  See all reviews (4 customer reviews)

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Product Description

Product Description

George Soros Ends the Speculation

"The outcome [of this book] is a summing up of my life's work. . . As I finish the book, I feel I have succeeded."-George Soros from the Preface

Critical praise for Soros on Soros

"If you have ever wanted to sit down for a candid conversation with a phenomenal financial success, George Soros's book provides the opportunity. You will meet a complex man and a first-rate mind."-Henry A. Kissinger

"The best expert on Soros is undoubtedly George Soros! After all, who is better equipped to tell us what he really thinks and how he thinks, a matter of some importance given the fact that he has translated a remarkable personal financial success into a truly generous and historically significant effort to promote postcommunist democracy." -Zbigniew Brzezinski

"The best X-ray of the mind of the master yet." -Barton M. Biggs

"George Soros brings a lot more to the world of finance than the intuition and nerve of a born trader-and in Soros on Soros he's no longer bashful about telling us about it. A philosopher at heart, George attributes his success at investing to a theory of the interaction of reality and human perception. What really drives the man now, with a personal fortune beyond all personal need, is a different kind of strategic investing-investment to build in Eastern Europe the kind of open societies he came to value in his own life." -Paul A. Volcker

Financial guru George Soros is one of the most colorful and intriguing figures in the financial world today. Now in Soros on Soros, readers are given their most intimate and revealing look yet into the life and mind of the one BusinessWeek dubbed, "The Man Who Moves Markets."

Soros on Soros interweaves financial theory and personal reminiscence, political analysis and moral reflection to offer a compelling portrait of the world (and its markets) according to Soros. In an interview-style narrative with Byron Wien, Managing Director at Morgan Stanley, and with German journalist Krisztina Koenen, Soros vividly describes the genesis of his brilliant financial career and shares his views on investing and global finance, politics and the emerging world order, and the responsibility of power.

Speaking with remarkable candor, he traces his progress from Holocaust survivor to philosophy student, unsuccessful tobacco salesman to the world's most powerful and profitable trader and introduces us to the people and events that helped shape his character and his often controversial views.

In describing the investment theories and financial strategies that have made him "a superstar among money managers" (The New York Times), Soros tells the fascinating story of the phenomenally successful Soros Fund Management and its $12 billion flagship, Quantum Fund. He also offers fresh insights into some of his most sensational wins and losses, including a firsthand account of the $1 billion he made going up against the British pound and the fortune he lost speculating on the yen. Plus: Soros's take on the devaluation of the peso and currency fluctuations internationally.

He tells of the personal and professional crises that more than once threatened to destroy him and of the personal resources he drew upon to turn defeat into resounding victory. And he explains his motivations for establishing the Soros Foundation and the Open Society Institute through which he worked to build open societies in postcommunist countries in Eastern Europe and the former Soviet Union.

Finally, turning his attention to international politics, Soros offers keen insights into the current state of affairs in Russia and the former communist bloc countries and analyzes the reasons behind and likely consequences of the West's failure to properly integrate them into the free world. He also explores the crisis of the ERM and analyzes the pros and cons of investing in a number of emerging markets.

Find out what makes one of the greatest financial wizards of this or any age tick. Soros on Soros is a must read for anyone interested in world finance and international policy.

From the Back Cover

George Soros Ends the Speculation "The outcome [of this book] is a summing up of my life′s work. . . As I finish the book, I feel I have succeeded."–George Soros from the Preface Critical praise for Soros on Soros "If you have ever wanted to sit down for a candid conversation with a phenomenal financial success, George Soros′s book provides the opportunity. You will meet a complex man and a first–rate mind."–Henry A. Kissinger "The best expert on Soros is undoubtedly George Soros! After all, who is better equipped to tell us what he really thinks and how he thinks, a matter of some importance given the fact that he has translated a remarkable personal financial success into a truly generous and historically significant effort to promote postcommunist democracy." –Zbigniew Brzezinski "The best X–ray of the mind of the master yet." –Barton M. Biggs "George Soros brings a lot more to the world of finance than the intuition and nerve of a born trader–and in Soros on Soros he′s no longer bashful about telling us about it. A philosopher at heart, George attributes his success at investing to a theory of the interaction of reality and human perception. What really drives the man now, with a personal fortune beyond all personal need, is a different kind of strategic investing–investment to build in Eastern Europe the kind of open societies he came to value in his own life." –Paul A. Volcker Financial guru George Soros is one of the most colorful and intriguing figures in the financial world today. Now in Soros on Soros, readers are given their most intimate and revealing look yet into the life and mind of the one BusinessWeek dubbed, "The Man Who Moves Markets." Soros on Soros interweaves financial theory and personal reminiscence, political analysis and moral reflection to offer a compelling portrait of the world (and its markets) according to Soros. In an interview–style narrative with Byron Wien, Managing Director at Morgan Stanley, and with German journalist Krisztina Koenen, Soros vividly describes the genesis of his brilliant financial career and shares his views on investing and global finance, politics and the emerging world order, and the responsibility of power. Speaking with remarkable candor, he traces his progress from Holocaust survivor to philosophy student, unsuccessful tobacco salesman to the world′s most powerful and profitable trader and introduces us to the people and events that helped shape his character and his often controversial views. In describing the investment theories and financial strategies that have made him "a superstar among money managers" (The New York Times), Soros tells the fascinating story of the phenomenally successful Soros Fund Management and its $12 billion flagship, Quantum Fund. He also offers fresh insights into some of his most sensational wins and losses, including a firsthand account of the $1 billion he made going up against the British pound and the fortune he lost speculating on the yen. Plus: Soros′s take on the devaluation of the peso and currency fluctuations internationally. He tells of the personal and professional crises that more than once threatened to destroy him and of the personal resources he drew upon to turn defeat into resounding victory. And he explains his motivations for establishing the Soros Foundation and the Open Society Institute through which he worked to build open societies in postcommunist countries in Eastern Europe and the former Soviet Union. Finally, turning his attention to international politics, Soros offers keen insights into the current state of affairs in Russia and the former communist bloc countries and analyzes the reasons behind and likely consequences of the West′s failure to properly integrate them into the free world. He also explores the crisis of the ERM and analyzes the pros and cons of investing in a number of emerging markets. Find out what makes one of the greatest financial wizards of this or any age tick. Soros on Soros is a must read for anyone interested in world finance and international policy.

Product details

  • Format: Kindle Edition
  • File Size: 2845 KB
  • Print Length: 336 pages
  • Publisher: Wiley; 1 edition (31 July 1995)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • ISBN-10: 0471119776
  • ISBN-13: 978-0471119777
  • ASIN: B000W0YFHW
  • Text-to-Speech: Enabled
  • X-Ray:
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (4 customer reviews)
  • Amazon Bestsellers Rank: #167,766 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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More About the Author

George Soros is the chairman of Soros Fund Management and the founder the Open Societies Institute, a global network of foundations dedicated to supporting open societies. He is the author of several best-selling books including The New Paradigm for Financial Markets/The Crash of 2008 and What It Means, The Bubble of American Supremacy and The Age of Fallibility. He was born in Budapest and lives in New York City.


Customer Reviews

4.0 out of 5 stars
4.0 out of 5 stars
Most Helpful Customer Reviews
10 of 10 people found the following review helpful
3.0 out of 5 stars 1st section is very good 16 Nov 2001
Format:Paperback
The book is split into 4 sections, the first of which is incredible inspiring. It is not factual but gives an insight into the the methodology adopted in the Quantum fund.
The second section, average, is about being a philanthropist and would be nice to read if I was from Eatern Europe.
Third/Forth sections read like a university thesis. Poorly written (not written by Soros) and not a concise impression of his thoughts on the open society. If Soros really wants to put his point across he really needs to write a much longer book, with much more detail, unless read by people well versed in philosophy, politics, socio-economics, finance and a bit of quantum physics for fun!
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4 of 5 people found the following review helpful
5.0 out of 5 stars The best book ever by George Soros 9 Feb 2000
By A Customer
Format:Paperback
The book covers a wide range of global currency crises and most importantly it gives a quite excellent view on speculation against the British pound in 1992.In addition, George Soros still dedicates enough comments about his theory on reflexivity and fallibility, and the preservation of the open society idea is referred to all of his books. I would highly recommend it to anyone who is interested in both speculation and information deficiencies.
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0 of 1 people found the following review helpful
4.0 out of 5 stars Very Interesting 2 Sep 2013
By mark
Format:Paperback|Verified Purchase
Started trading about a year ago and this book gave an insight into one of the all time pro's. successes and mistakes are all exposed in this booked - interview style.
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0 of 2 people found the following review helpful
4.0 out of 5 stars Great Book 21 Oct 2011
By Marek
Format:Paperback
Great summary of Soros activities in Financial markets, Philantrophy, Open Society orgazations, boom - bust theory. Book has form of interview with Soros. I suggest to read this book. You can see from other side view on some events.
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Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com: 3.7 out of 5 stars  30 reviews
43 of 45 people found the following review helpful
4.0 out of 5 stars Good Insights from a Financial Guru 6 Mar 2003
By Christopher Hefele - Published on Amazon.com
Format:Paperback
George Soros is unquestionably one of the finest investors of our time; his returns over the life of his Quantum fund have put the random-walk theory to shame. In this book, which is essential a long interview, Soros expounds on his market philosophies and political views. Personally, I found this book better structured and more informative than his previous book, "The Alchemy of Finance."
As the book begins, Soros goes into the details about how he founded and runs his fund. He started as a trader, then an analyst, then created a model portfolio that he managed as a sales tool for when he talked to his clients. He left his firm and started his hedge fund at age 43, with $12M in 1973. In 1981, retired from active management and hired other fund managers to run the Quantum fund.
When running the fund, he is a macro investor, since he claims he's better at picking the tide rather than surfing the smaller waves in the markets. He tends to form an opinion on the direction of a currency, stock market, or interest rates, then trades within the view he set.
Soros also describes his market philosophy, which he described previously in "Alchemy of Finance." His concept, dubbed reflexivity, claims that market's movements influences people's perceptions, but since people trade based on their biased perceptions, they in turn influence the market. The result is that perceptions and market movements co-evolve, and may drift away from the fundamentals and, in some cases, change the fundamentals. The result is familiar boom-bust patterns, such as trend-following behavior in markets followed by crashes. As a result, Soros follows trends, but remains alert for signs of reversals.
Soros is also a major philanthropist, and has created foundations to spread open societies into Eastern Europe. There is a significant portion of the book devoted to his political work, however I found that less interesting, not because his views aren't valid or well articulated, but because I bought the book primarily to learn about Soros' work in finance.
Overall, I found this a good read in finance. Although you won't come out with 10 sure-fire stock tips for your 401(k), this book is certainly a must for Soros fans, or any intrigued investor who would like to learn from one of today's most successful financiers.
12 of 13 people found the following review helpful
3.0 out of 5 stars The Man Who Moves Markets 8 Aug 2003
By Mohit Kapur - Published on Amazon.com
Format:Paperback
This book covers many facets of George Soros's life- his investment philosophy, family history, quantum fund, his own theories of investing, philanthropy, diplomacy, and some of his selected writings. Mr. Soros talks about macroinvesting and how leverage has given the quantum fund greater flexibility than a two dimensional portfolio. He surprisingly admits that he is a very critical person who looks for defects in him as well as others- calls himself an insecurity analyst. Mr. Soros also talks about the tension between his parents and how the Nazi invasion of Hungary influenced him. I would suggest that one read his book, The Alchemy of Finance to learn more about his approach to investing. Classical economic theory assumes market participants act on the basis of perfect knowledge, his philosophy is based on imperfect understanding. The Alchemy of Finance talks in detail about the general theory of reflexivity and boom/ bust theory. Using the sterling crisis, Mr. Soros emphasizes the need for Euro. Karl Popper at LSE influenced him greatly and Mr. Soros invested millions on promoting an open society in Eastern Europe. His foundations have failed in China and Russia. He does not want anything but the Central European University to outlive him. Mr. Soros talks extensively how the west failed the Soviet Union and states that it would have been better had it not collapsed like Yugoslavia It is a must read for anybody interested in philosophy, diplomacy ,and business.
16 of 19 people found the following review helpful
4.0 out of 5 stars Insightful! 7 May 2001
By Rolf Dobelli - Published on Amazon.com
Format:Paperback
Like a 21st century physicist, George Soros is looking for the universal theory, the theory of everything. In Soros on Soros, he tries to express his vision of that theory, that one formula that will link his insights into markets, group dynamics and the historic and political evolution of mankind. While he never succeeds, you'll get a full education in Soros-think as you watch him lurch through a series of anecdotes, observations and philosophic lunges. Soros is an investor and self-proclaimed failed-philosopher, not a wordsmith. The power of this book lies in its ideas, not its art. He has learned from his role as the world's most powerful investor that mere thoughts - whether correct or incorrect - can move markets, motivate people to action and alter the course of history. For that reason, we [...] recommend this book to all investors, executives and students. After a series of financial defeats since 1998, Soros might not be what Soros was, but his ideas and beliefs still sway markets and shade international policy in a manner that few people on the planet can match.
14 of 17 people found the following review helpful
2.0 out of 5 stars If you like reading Warren Buffet, you will not like reading George Soros 13 May 2006
By Nick Gray - Published on Amazon.com
Format:Paperback|Verified Purchase
I'll say this first: I am not a genius, and George Soros probably is. The book presented itself in an interesting Q&A format that made it easy to skip around and jump sections. That being said, it was still a struggle to finish.

I did not like this book because it was hard to understand and mostly discussed Soros' high-level theory on investment strategy. His theory, which Mr. Soros is very passionate about, has something to do with the universe always being out of balance. If you are a finance whiz who thrives in theoretical analysis, or if you are a new age guru curious about a billionaire's spiritual mantra, maybe you will like this book.
12 of 15 people found the following review helpful
5.0 out of 5 stars Thinking does help! If you're good at it! 26 Dec 1999
By Mark D Stump - Published on Amazon.com
Format:Paperback
Many people insist that one can't beat the market. They tell you: don't even try. Heaven forbid you pick out a few stocks which you think will go up (they'll tell you you'll almost certainly be wrong) but instead buy all sorts of stocks (stocks you think will go up, stocks you think will go down, and stocks you think will go sideways (to make this easy just buy some index))in an attempt to insure an average return. And while many people believe this, there are also many (with some overlap) who still try to outsmart the market. Please don't expect a formula, cookbook, or road map. You won't find a list of stocks to buy here. Soros can't tell you: always buy stocks with a P/E below this, or sell stocks when the moon is full, or they fall 8% from where you bought them (Is it 8% or 9%? It's all so arbitrary isn't it? What does it matter what price you paid, the earth doesn't revolve around you and neither does the future of any stock. Soros can give you some perspective and teach you that you may actually have to think, and think well, with each decision! And THIS, is far better than presenting a bunch of false rules!
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Once we realize that imperfect understanding is the human condition, there is no shame in being wrong, only in failing to correct our mistakes. &quote;
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Most of the time I am a trend follower, but all the time I am aware that I am a member of a herd and I am on the lookout for inflection points. &quote;
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They cannot obtain perfect knowledge of the market because their thinking is always affecting the market and the market is affecting their thinking. &quote;
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