Later, Soros became a trader of this company, specializing in arbitrage trading of gold and stocks, but he didn't perform well during this time and didn't make much money. So Soros made a life-long choice: to go to new york for gold.
Soros came to new york with all his $5,000 savings. Through the introduction of acquaintances, he joined F.M.May6r Company and became an arbitrage trader, engaged in European securities analysis and providing advice to American financial institutions. At that time, few people were interested in his suggestion. From 65438 to 0959, Soros switched to Wertheim &; Co company continues to engage in European securities business. Fortunately, Wertheim is one of the few American companies operating overseas. Soros has been one of the few Wall Street traders who carry out arbitrage between new york and London.
1960, Soros did a small experiment, and his sharpness began to appear. After analysis and research, he found that the stock price of Allianz insurance company in Germany was greatly discounted compared with the asset value because of the rising price of its stock and real estate investment, so he suggested that people buy Allianz shares. Morgan Guarantee Company and Dreyfus Fund bought a large number of printed shares of Allianz Company according to Soros's suggestion. As it turns out, as Soros expected, the value of Allianz's stock tripled, and Soros became famous in one fell swoop.
1963, Soros began to work for Arilhod &; Bleichrocoer company of America. This company is good at dealing in foreign securities, which suits Soros's appetite and enables him to give full play to his expertise. Steven Karen, Soros's employer, also appreciates Soros very much, thinking that he is brave, resourceful and experienced in developing new business, which is exactly what the arbitrage exchange needs.
1969, 39-year-old george soros finally stood out. With the money he earned in the past ten years, he established a private equity investment partnership fund named Quantum Fund in partnership with others by virtue of his good relationship in the financial circles of London and new york. Just as a quantum priest star can't have a definite number at the same time, in george soros's view, the market is often in an unstable state, and it is difficult to accurately measure and estimate it. If investors can make a discount on obvious things and bet on unexpected things, they will certainly get big profits.
After george soros took charge of Quantum Fund, his genius in securities trading was fully reflected. George soros's fund investment principle is all-round investment. He invested in a variety of objects: Lan's shares, Hong Kong's real estate, Japanese railways; There are bonds, futures, stocks, options, currencies, indexes, etc. He used complex skills and changeable routines to do a lot of speculative transactions with small guarantees, such as short selling and options. Ordinary people are elusive, and it is even more impossible to follow suit.
George soros didn't spend a lot of time studying the economy, nor did he make great efforts to read the overwhelming stock analysis reports. Instead, he mainly read newspapers through his own unique eyes and formed his own views and judgments on the stock market. At the same time, he often keeps in touch with authorities all over the world to ensure the smooth flow of news. He knows that in the stock market, nothing can make money faster than hard insider.
George soros, like Buffett and Lynch, does not believe that the securities market is effective. He believes that there is no theoretical basis for technical analysis of securities, and what is really useful is fundamental analysis, that is, industry analysis and company analysis. Although he was successful for a while, his decision was basically correct. However, the journey of the quantum fund he managed was not smooth sailing, but ups and downs.
For example, 198 1, nearly half of the investors withdrew from the fund because they were not optimistic about George Soros's investment strategy. But by 1982, the yield of quantum fund reached 57%. 1987 during the global stock market crash, although george soros predicted that the stock market would plummet at maturity, he missed the best opportunity to quit, and lost $800 million in just a few days, equivalent to one third of the book capital of Quantum Fund.
Therefore, george soros said: It is not enough to foresee something, but also to accurately grasp the changing fighters. Of course, if you don't know when to come, it will be even more useless. If a patient long-term investor really understands the value of george soros's investment object and spends 50 yuan to buy something worth 100 yuan a year later, then there is no need to worry about whether he can accurately grasp the opportunity!
When it comes to the performance of Quantum Fund and george soros's achievements, we have to mention another famous investment and finance genius, Rogers, who is in charge of securities analysis. Under the genius of Gemini in the securities industry, the quantum fund has increased from 1970 to120,000 dollars to198 to 500 million dollars. Later, at the age of 37, Rogers decided to quit the Quantum Fund on 1980 and started his own portal with tens of millions of dollars. After that, he also attacked everywhere and achieved remarkable results. Especially 1985, his great success in the Austrian stock market won him the reputation of "the father of the Austrian stock market". After the effective partner leaves, george soros can let go of his hands and feet and invest completely according to his own intention. This has brought a record-breaking scene in the history of world finance.