He’s one of the most well-known hedge fund managers in the world, praised prett-ay, prett-ay, prett-ay frequently for his market savvy but the FT has decided that Jorge just doesn’t get the props he deserves.
George Soros has been the public face of the hedge fund industry since long before he made $1bn forcing sterling out the European exchange rate mechanism. The total money his Quantum fund has earned for clients, though, has rarely been discussed – and is extraordinary. According to new research, the 80-year-old Mr Soros has produced $32bn for his customers since setting up in 1973, an average of over $900m a year. Put another way, Mr Soros and his team of 300 have made their investors more than the total earnings of Apple, which employs 34,300, or Alcoa, one of America’s 30 largest manufacturers. When it comes to the hedge fund mantra of “absolute returns”, Mr Soros is leader of the pack.
So whether its via a shoutout on your Bloomberg status, by picking up the phone and giving him a call or telling your friends “this one’s for my man George” when you puff one tonight, give it up for the guy. Other people you might also consider throwing some love at are the top ten absolute return managers, as ranked by the FT, who also suffer from a lack of recognition.