Investing in stocks and bonds involves skills that most individuals can learn, but building great wealth while doing so means using finely tuned intuition and observation. George Soros, philanthropist and hedge fund manager, used his intuition to invest wisely and has gathered enough wealth to share his bounty and build his own investment fund. His followers and financial publications learn from his maneuvers, but Soros’ latest move may shock millions. According to an article on The Street website, “Week Ahead: Does George Soros Know Something We Don’t?”, Soros Fund Management dropped Chevron, Chesapeake Energy and NRG Energy shares from its investment portfolio. The article continues, describing how volatile energy stock is and how prices will stay unpredictable because Iran intends to add their own oil to an already shaky market when Saudi Arabia and Russia agreed to stop oil production until the price per barrel rises.
Investors may wonder if Soros has acted unwisely, but his success and philanthropic ventures make Soros an example of how to invest and divest wisely, then how to help others with the accumulated wealth. Soros’ success may lie in his not having a particular investment strategy, preferring to alter his style in response to the fluctuating markets. According to Wkiquote.org, he has embraced his own fallibility with the forgiveness that fuels resilience. He feels that our limited understanding is part of the human condition and that there is no shame in being wrong. The real shame lies in not correcting our errors. It is this kindness to himself, which supports his ventures and sustains a belief in his own success. His philanthropic efforts started in 1979 when he provided financial help for Black students wanting to attend Cape Town University. According to his biography at georgesoros.com, that first philanthropic spark led to his founding the Open Society Foundations that currently serve over 100 countries. His political views may be attributable to a childhood lived under Nazi occupation.
Soros was born in Budapest during 1930. After surviving the Nazi concentration camps and attending the London School of Economics, he moved to the United States. Then, he accumulated his wealth while working for an international hedge fund. His political activism stems from his belief in a world free of intolerance and replacing hierarchical or authoritarian governments with open societies He states, “My success in the financial markets has given me a greater degree of independence than most other people,” and, “This allows me to take a stand on controversial issues: In fact, it obliges me to do so because others cannot.” To these ends, he writes essays and has written 14 books, allowing readers a glimpse of his views on economics, politics and globalization.