Tuesday, 1 December 2015
Last updated 11 hours ago
May 8 2013 | 8:47am ET
Has George Soros done it again?
Rumor has it that the 82-year-old hedge fund legend, who made his name 21 years ago betting against the British pound, and who made nearly $1 billion earlier this year betting against the Japanese yen, has turned a smaller, but still tidy, profit on the Australian dollar.
The Australian press reports that Soros is behind a 36-hour, US$1 billion bet that the Australian Reserve Bank would cut interest rates. Indeed, it seems, someone placed the bet three times with different brokers in Hong Kong and Singapore, earning him almost $60 million.
While Soros has not acknowledged that he's behind the trades, the mere rumor that he was betting against the Aussie was enough to send the currency swooning.
"He is obviously very influential on currency markets," West Union Business Solutions' David Greene told CNBC. "If markets get a whiff that he is intervening, people start paying attention."
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…