Friday, January 23, 2015

"George Soros 'finally' retires"

From Wealth Manager:
Legendary fund managers George Soros (pictured) said he is retiring for good.

The man who broke the Bank of England has toyed with the idea of retiring several times and confirmed at a private dinner he hosted at Davos last night that this time he meant it.

Soros, 84, stopped running client money in 2011, and told his guests he would be handing the money he runs on behalf of families to his investment firm's chief investment officer Scott Bessent.

‘I have retired many times before but this time it’s final,’ Soros is reported to have said. ‘I am devoting all my energies to what I call my political philanthropy and the two activities are not compatible.’

In a panel discussion at the World Economic Forum at Davos, Soros highlighted how conflicts across the globe are making things much more difficult for financial markets.

'With the spread of unresolved conflicts to Europe the dynamics of financial markets and international affairs have become more intimately intertwined,' he said.

'This has greatly increased the level of uncertainty, volatility and unpredictability both in financial markets and international affairs because financial events are extraneous to political dynamics and international affairs are extraneous to the dynamics of financial markets.'...MORE
[George Soros]
You have my word as a hedge fund manager....

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