- Soros Fund Management
Soros Fund Management LLC, founded by
George Soros , is a privately heldcorporation providing financial services and investment strategies for various funds including some controversialhedge fund s such as theQuantum Group of Funds . The company's investment strategies have been based on analysis of real or perceived macroeconomic trends in various countries. Soros' companies have been accused of applying pressure on currencies to directly benefit their speculative strategies. Soros responds to these charges by saying that his funds merely take advantage of known weaknesses in the international financial system.1992
In the week leading up to
September 16 ,1992 (the "Black Wednesday "), Quantum Funds made $1.8 billion byshorting British pound s and buyingGerman mark s. This feat earned Soros the title of "the Man Who Broke theBank of England ". There were unsubstantiated and unspecific allegations that individuals affiliated with Soros gathered information in an undisclosed manner about the Bundesbank's policy toward the British pound [http://www.brookesnews.com/george-soros.html] . On the other handBritish government policy in the period before the ejection of thepound sterling from theExchange Rate Mechanism of theEuropean Monetary System has been widely criticised, for providing speculators with a one-way bet.External links
* [http://www.pkarchive.org/trade/soros.html Paul Krugman on Soros]
Wikimedia Foundation. 2010.