# Highly Recommended《Bran-New + Includes A Never Before Published Interview With Soros And His Insights On The Future Of Global Markets》Robert Slater - SOROS : The Life, Ideas, and Impact of the World's Most Influential Investor
This New York Times bestseller in hardcover edition is a bran-new book and still wrapped with new-book plastic wrapper. The original new book is sold at usual price RM182.00 (Hardcover). Now here Only at RM36. The highly acclaimed bestseller updated to reveal Soros' role in our new economic and political era As a financial genius, global philanthropist, political activist, man of conscience, and the world's only investor with his own foreign policy--it cannot be denied that Soros is an enigmatic man of enormous influence. For more than four decades he has been so successful that he has been accused of directing the course of global markets and shaping the destinies of nations. Now, in this exhaustively updated and expanded edition of his 1996 bestseller, biographer Robert Slater separates fact from fiction to get at the truth about the mysterious figure of George Soros. Working from extensive interviews with Soros and those closest to him, Slater combines compelling biographical detail with scrupulous analysis to: ● Detail how Soros made his billions as a global currency trader and stock operator ● Chronicle his role in bringing down communism and establishing open societies to Eastern Europe and the former USSR ● Demystify Soros's macroeconomic approach to investing and his oft-misunderstood theory of reflexivity Explore his fanatical obsession with unseating George W. Bush in 2004 and his growing involvement with left-wing political activist groups ● Reveal George Soros's strategies for surviving and thriving in the chaos of today's credit markets ----------------------------------------------- He's been hailed as the “World's Greatest Investor” and “King of the Hedge Funds.” In the 1980s he worked tirelessly and spent lavishly to help bring down communism in Eastern Europe and establish open societies where none existed. Yet he now asserts that his life's mission is to defend democracy against capitalism and “excessive individualism”. An avowed liberal, he's vilified on the right and admired by many on the left. George Soros has been making headlines for more than four decades, yet he remains as much an enigma as ever--especially to those who would divine the secrets behind his phenomenal success as a global investor. Now, in this thoroughly updated, substantially expanded edition of his 1996 bestseller Soros, biographer Robert Slater goes beyond the headlines and the oft-told tales to reveal the man behind the legend. Working from extensive interviews with Soros himself, as well as Soros's business associates and friends, Slater traces his subject's life across two continents and more than seven decades. We see Soros as a Hungarian boy whose favorite game was Monopoly; a Jewish teenager on the run from the Gestapo; an émigré in England who waited tables and served as a lifeguard tp survive; a burgeoning intellectual at the London School of Economics with a flair for analytical philosoph; and as a new arrival to his adoptive homeland, the USA. Slater also closely tracks Soros's meteoric rise from unsuccessful gold arbitrageur to “The Man Who Moves Markets.” He chronicles many of Soros's financial triumphs and missteps, digging deep to provide new insights into some of his most sensational coups, including Soros's history-making move against the Pound-a play that netted him a cool $1 billion and seemingly threatened to break The Bank of England. And in entirely new chapters devoted to Soros's political awakening, Slater describes his growing involvement with national politics during the 1990s, his role in helping to launch the liberal political action group, Americans Coming Together, his mounting obsession with George W. Bush following 9/11 and his efforts to unseat him in the 2004 election, and his widely misunderstood involvement with Moveon.org. The subtitle to this book on George Soros, I believe, should be “What Makes George Run?” after the title to a novel originally published in 1942. Slater does a good job presenting his subject in an easy to read and interesting biography. Yet, the book seems incomplete because a question still remains as to why Soros does what he does. It is not so much that he is an investor and a very successful one. It is why he seems driven to be a philosopher, a philanthropist, and a political mover and shaker. Soros is successful. He generously shares his wealth. He wants to do good things and contribute to good government. He wants to be known as a thinker. These are all commendable things and we should certainly hold him in respect for them. It is just that as one reads of his life, as Slater presents it, one comes away feeling that he is not completely comfortable with who he is. From everything that is public about him, it seems Soros has legitimately earned his fortune. He has worked hard, he has taken risks, and has guessed right more often and in larger amounts that he has guessed wrong. He has set up and led several organizations and has retained talented individuals who have remained loyal and supportive of him. And, he has sustained his position at or near the top of the performance ladder for many years. He remains very, very wealthy. His secret? Slater tries to get at this, but the best answer he can come up with is that Soros has great intuition. Soros is quoted as saying, “In the final analysis, you must rely on your instincts for survival.” Work hard, read widely, study, study, study…and then…well…? We are told that investing “is a business that doesn’t necessarily lend itself to logical, rational thinking. It’s an intuitive process.” Soros attempts to provide us with his insight into how markets work and how investors make money. In his major effort to comprehensively explain how he sees the world work, “The Alchemy of Finance”, he describes a world in which all views of the world are “flawed or distorted.” The ‘academic’ models that assume investors have complete information and act rationally with this information are best kept in the academy. The price of an asset, he contends, is “a result of perceptions that (are) as much the outcome of emotions as of hard data.” Soros uses the term ‘reflexivity’ to describe the connection between these flawed perceptions and the course of events, a connection that, from time-to-time, produces a ‘self-reinforcing factor’ that interacts with ‘underlying trends’ to create wide swings in individual prices or in movements in whole markets. In other words, “Flawed perceptions cause markets ‘to feed on themselves.’” The Soros effort to provide ‘intellectual’ support to how he views the world falls into the category of economic theories that blame “irrational” explanations for the movement of markets. A recent ‘academic’ presentation of this approach is the book by Robert Shiller and George Akerlof entitled Animal Spirits. Animal spirits, according to Shiller and Akerlof, are related to “noneconomic motives” that are major influences on people making economic decisions: motives like confidence, fairness, corruption and bad faith, money illusion, and stories. Because of these motives, they argue, financial markets will, from time to time, fall into chaos since animal spirits tend to drive the economy sometimes one way and sometimes another causing markets to fluctuate more excessively than if investors had complete information and acted rationally. To perform well in these markets one must act intuitively and respond on the basis of instinct, attributes that Soros seems to have a plentiful supply of. However, intuition and instinct cannot be taught. They cannot be modeled. Soros, as a thinker and a writer, just does not possess the skills of a Shiller or Akerlof to present such a picture of the world coherently or cogently. And why should we expect this since we are told that Soros has never been more that an average scholar, even in college. Still he tries, for he wants to be a “philosopher.” This, however, does not seem to satisfy the world famous investor and so he has branched out into ‘good works’ (his philanthropic efforts) and to changing how the world is governed (his efforts to promote liberal causes and open societies). People listen to him. Well, why shouldn’t they? He has lots and lots of money and he has been very willing to give it away to others. I’d listen to him too. It is a small price to pay. Slater does a good job of relating the events in the life of George Soros: his upbringing in Hungary, his stay in London, his education at the London School of Economics (where he met and interacted with Karl Popper) and his move to New York. He follows Soros through the ups and downs of his investment career, spending a total of three chapters on his “greatest coup,” the “remarkable bet against the pound” in 1992, which “made him a world-famous investor.” A well written account of George Soros's life, which provides some insights into his ideas and theories of investment and market behavior. This book covers the essential aspects of Soros's life, from his humble beginnings to becoming the 'man who broke the bank of England', but the events are not narrated in chronological order so its sort of difficult to navigate through this book, anyways finance grads and young traders will find this a fascinating read. About the Author Robert Slater is the bestselling author of 30 books, including Jack Welch and the GE Way, Saving Big Blue, The Eye of the Storm, and Microsoft Rebooted.
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