scroll to top
Stuck on your essay?
Get ideas from this essay and see how your work stacks up
Word Count: 672
Today I would like to talk about the most famous international speculator of them all Geroge Soros and how he went about braking the bank of England in September 1992 and quasy single handed terminate the ERM I have always been very fascinated by international financial speculation and the actual power the individual investor has George Soros is proberbly the worlds most famous hedge fund manager in the worldGeorge Soros was born in Budapest Hungary in 1930 In 1947 he emigrated to England where he graduated from the London School of Economics While a student at the London School of Economics In 1956 he moved to the United States where he began to accumulate a large fortune through an international investment fund he founded and managed Mr Soros currently serves as Chairman of Soros Fund Management LLC a private investment management firm which serves as principal investment advisor to the Quantum Group of Funds recognized as having the best performance record of any investment fund in the world in its thirty-year history Soros Philosophy is that every exchange rate is Flawed and he sat out to prove his theory in 1992 when he attacked the EMS system in late 1992 Before the reunification of Germany the ERM had proven to one of the strongest Exchange rate systems ever created but because Germany had to be the anchor of both the its own reunification and the EMR it created a a latent flaw in the ERM The flaw was that because of the massive capital injection from west to East Germany and the 1-1 exchange rate a high inflations pressure was developed in Germany leading to an increase of interest rates At the same time Europe and especially Britain was in a mode of recession meaning that they were not ready for such an interest hike by the Germans This made the Pound very valuable and since the German bundeds
@Kibin is a lifesaver for my essay right now!!
- Sandra Slivka, student @ UC Berkeley
Wow, this is the best essay help I've ever received!
- Camvu Pham, student @ U of M
If I'd known about @Kibin in college, I would have gotten much more sleep
- Jen Soust, alumni @ UCLA