George Soros, born August 12, 1930, arguably one of the most successful hedge-fund managers of all time, centres his economic philosophy on the ‘theory’ which negates the popular held belief of his time, that markets are efficient. Because for him the concept of equilibrium can be held accountable in case of logic or mathematics, not in the case of the stock markets, which by nature are volatile. Instead, Soros believes in ‘disequilibrium.’ The reason for his view “buy and sell decisions are based on expectations about future prices, and future prices in turn, are contingent on present buy and sell.”
George Soros greatly admired his father, Tivadar, who taught him the importance of survival. Tivadar was an attorney, who as an Austro-Hungarian officer in World War II, was captured by the Russians, and endured a long stint in a POW camp before engineering a successful group escape back to Hungary. During the unsettled....
