According to data compiled on its website, Bloomberg.com offers a brief synopsis of Soros Fund Management LLC. The private company was founded by its principal, George Soros in 1969. With such a long standing history, it is easy to understand the importance of the “George Soros effect” in respect to changes in the financial funding and capital markets.
The predominant avenues that the George Soros Fund manages are those financial opportunities related to buyouts and acquisitions, funding for start-ups, growth capital and private equity.
When it was announced that George Soros unexpectedly got rid of three biotech holdings, this caused widespread speculation throughout the financial services industry. The Motley Fool reported that Soros entirely disposed of the following: Novavax, Biotechnology Index Fund, and Gilead Sciences.
In the article, written by George Budwell, the Fool.com explored the hidden implications of the move. Considering that George Soros is internationally known as one of the best hedge fund managers of all time; all eyes are on biotech holdings.
Although Soros officially retired in 2015, he still holds a great deal of influence on investors; many are mindful that his capital returns per year were in excess of thirty percent. Given the fact that George Soros Fund has more than $4.6 billion under management; it’s probably a sound financial move to take note of the dumping of the biotech holdings.
“The Fool” offers a quick warning to those investors looking to follow suit and slide biotech to the “proverbial” curb. The Fool actually deems dumping the holdings a precautionary move by the George Soros Fund. Because there is a lot to consider; such as the possibility of the presidential election. In the new year, biotech could make big gains, given the overwhelming prospects of pharmaceutical upswings; such as the prime rebound by Gilead with the introduction of a new hepatitis C medication.
George Soros was born in Budapest in 1930, his family escaped the Nazi occupation by fleeing to England in 1947. In England, he found educational stability and then attended the London School of Economics. This early introduction to finances, later inspired a young George to move to the United States, where he began fine-tuning his fund manager prowess. He went on to found, George Soros Fund Management and amass an incredible fortune through international investing.
In addition, to the success of his hedge fund firm, George Soros is also an accomplished author. To date, he has published numerous books, essays and articles about politics and how the state of economics affects society as a whole.