American financier george soros runs five hedge funds with different styles. Among them, Quantum Fund is the largest one and one of several large hedge funds in the world. Quantum Fund was originally founded by Soros and another famous hedge fund, jim rogers, in the late 1960s. At first, its assets were only $4 million. The fund was established in new york, but the investors are all non-American foreign investors, thus evading the supervision of the US Securities and Exchange Commission. Quantum funds invest in commodities, foreign exchange, stocks and bonds, and make extensive use of financial derivatives and leveraged financing to engage in all-round international financial operations. Soros, with his extraordinary analytical ability and courage, guided the quantum fund to grow and develop again and again in the world financial market. He has accurately predicted the extraordinary growth potential of an industry and a company for many times, and thus obtained extraordinary returns in the rising process of these stocks. Even in the bear market where the market fell, Soros made a lot of money with his superb short-selling skills. After less than 30 years of operation, by the end of 1997, the quantum fund has grown into a giant fund with total assets of nearly 6 billion US dollars. By the end of 1996, the 10000 injected by Quantum Fund had increased to $300 million, an increase of 30,000 times.

Soros became a hot figure in the international financial community because he launched several large-scale currency sniper wars with the help of quantum funds in the mid-1990s. With its abundant financial resources and fierce style, Quantum Fund has been making waves in the international currency market since the 1990s, often attacking currencies with weak foundations and succeeding repeatedly.

Although the quantum fund has only $6 billion in assets, it has become a decisive force in the international financial market because it can obtain the investment effect equivalent to tens of billions or even hundreds of billions of funds through leveraged financing and other means when needed. At the same time, due to Soros's fame, the whereabouts and betting direction of Quantum Fund are followed by large-scale international hot money. Therefore, every move of quantum fund often plays a key role in the fluctuation trend of a country's currency. Hedge funds often attack a currency by short-selling it on a large scale in the forward and futures and options markets, thus causing depreciation pressure on the currency. For countries with foreign exchange reserves, after futile market intervention, the only way left is often to devalue their currencies, so that short hedge funds can make a lot of money. Soros and his quantum fund were directly responsible for several serious currency crises in the 1990s.

In the early 1990s, in order to cooperate with the linked exchange rate within the European Union, the exchange rate of the pound was artificially fixed at a high level, which triggered an attack from international currency speculators. Quantum Fund took the lead in launching an attack, selling pounds on a large scale in the market and buying German marks. Although the Bank of England made great efforts to throw out the Deutsche Mark to buy the pound, accompanied by measures to raise interest rates, it was defeated by the attack of the Quantum Fund, and the pound was forced to withdraw from the European currency exchange rate system and float freely. In just 1 month, the exchange rate of the pound fell by 20%, and the quantum fund made huge gains of hundreds of millions of dollars in this pound crisis. Shortly thereafter, the Italian lira suffered the same fate, and the Quantum Fund also played the leading role.

1994 Soros quantum fund attacked Mexican peso. Before 1994, the healthy growth of Mexico's economy was based on excessive dependence on short-and medium-term foreign loans. In order to control domestic inflation, the peso exchange rate is overvalued and pegged to the US dollar. The attack on the peso initiated by Quantum Fund led to the collapse of Mexico's foreign exchange reserves in a short time, and it had to abandon its peg to the US dollar and float freely, leading to the collapse of the Mexican peso and the domestic stock market. Quantum Fund made a lot of money in this crisis.

1997 In the second half of the year, a financial crisis occurred in Southeast Asia. Mexico, Thailand, Malaysia, South Korea and many other Southeast Asian countries, such as 1994, have long relied on short-term and medium-term foreign debts to maintain the balance of payments, and their exchange rates are high, and most of them are fixed or linked to the US dollar or a basket of currencies, which provides good opportunities for international speculative funds. Quantum fund played the role of sniper, starting with a large number of short selling of Thai baht, forcing Thailand to abandon its long-term fixed exchange rate pegged to the US dollar and float freely, thus triggering an unprecedented crisis in Thailand's financial market. The crisis quickly spread to all countries and regions in Southeast Asia where currencies are freely convertible, forcing all major currencies in Southeast Asia to depreciate sharply in a short period of time, and the collapse of the monetary system and stock market in Southeast Asian countries, as well as the huge pressure of foreign capital withdrawal and domestic inflation caused by it, cast a shadow over the economic development of this region.