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I have made it a principle to pursue my self-interest in my business

很喜欢这句话

If we have CDS in China for NPD or Trust products, you will see the  crisis moving faster. Anyway, Soros is an amazing expert in the financial world. Thinking independently is a good lesson for us.

Soros and his Quantum Funds are well known by Asia Economics Crisis.In several years, I have a bad view about Soros which like greedy man on money.Maybe I don't know the real character of him.Through this essay,I think I will transform my bias opinion into positive and respectful views.

hedge fund:对冲基金

In the last 30 years, he’s given away more than $8 billion to promote democracy, foster free speech, improve education and fight poverty around the world, he said in a recent essay. ------以前对Soros颇有微词，看了这段话后，感觉好多了，做人必须有责任感。

keep studying

78,78
émigré  
逃亡贵族,流亡者
exemption  
n.免除
quantum  ['kwɔntəm]   
n.定量, 额, 量, 量子
endowment  [inˈdaumənt]
n.捐赠；[ pl.]天才
Budapest  [ˌbu:də'pest]   
n. 布达佩斯（匈牙利的首都）
nazis  ['nɑ:tsi]   
n. 纳粹分子
名词nazi的复数形式
exhilarating  [igˈziləreitiŋ]
a.使人兴奋的
predecessor  [ˈpri:disesə]
n.前任，前辈；原有事物，前身
submit to  
屈服, 屈从于
Thai Baht  
泰铢
wager  ['weidʒə]   
n.赌注, 打赌
v.打赌, 押注
woe  [wəu]
n.悲痛；灾难
beacon  ['bi:kən]   
n.烽火, 灯塔, 基地
Montenegro  [ˌmɔnti'ni:grəu]   
n. 黑山（南斯拉夫西南部）
Haiti  [ˈheiti]
n.海地

After four decades’ of fight as hedge-fund manager, George Soros is to complete his transformation from a speculator to philanthropist statesman. Because the new regulations of the Securities and Exchange Commission will cancel exemption clauses that Quantum Endowment Fund relies on now, Soros decides to run his firm as a sole family office, returning money to outside investors, whose shares have been diminishing since 2000.
Quantum’s performance is not so good in the last 18 months compared to other macro funds, reversing its old day’s glories.
Born in a Jewish family in 1930, Soros and his family escaped the clutches of the Nazis in 1944, which left a lasting mark on Soros, giving him an appetite to take risk. He learned to turn a disaster of unthinkable proportions into an exhilarating adventure.
Soros started his career as a trader in New York and stayed in the world of finance since then. In 1973, he opened his first own firm. Soros’s fund acted as an evil in the crisis of the devaluation of Thai baht in 1997, and at the same time, he kept buying Russian assets, stocks and bonds to boost the capital inflows. The philanthropic side started to interfere with the speculative one.
In Soros’s words, he pursues self-interest within the legal and moral limits. But if it conflicts with the public interest, the latter ought to prevail. His business prospered quickly from the first foundation, the Open Society Fund, in 1979, to promoting democracy and a market economy in Eastern Europe, and till now the global-wide network of foundations operating in 70 countries.
Soros stepped in the subprime mortgage crisis in 2007 and gained quite a lot above benchmark, accumulating Quantum Endowment Fund from about $11 billion to today’s $25.5 billion. Later, the fund made losses and positions are sold. In the meantime, Soros keeps giving views on macroeconomic events and continues his philanthropy. Soros is proud of his success, which provides him access to controversial issues with a greater degree of independence. Taking such stands as philanthropist has made him happy.

he is a great speculator in the financial history , a strong supporter of free market . and a financier, businessman and notable philanthropist .

Soros is really a contradictory man and maybe no one has received more praise and abuse than him. However, as mentioned above, no one can deny the basic fact that Soros's  self-interest pursuing behavior is subject to legal limitations. In view of this point, Soros is blameless. Just as an old saying goes: house flies never sting eggs that have no cracks.

8# xc2010economics

As the movement of the market is approved to be Brownian motion， I have no clue to see the advantage of the so-called financial modelling. The most famous mutual fund LTCM failed at last, as they claim they have the smartest heads in the world. In the movie of "Wall Street", the boss said "I want a sure-win, don't analysize the crap model for me", which means he asked the guy to collect some insider information. That is also the reason why the Investment Banks all over the world like to employ the governors' children, paying them high salary and asking them to get some information. Information assymetics is the biggest problem in the financial world. Who gets the information, who wins the game. To the best of my knowledge, network is the most important task to be done in the financial world. Information is Money!!!

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索罗斯应该算是对冲基金的第一人了。
他离开对冲基金以后，那些历史将变成传说，传说将变成神话。