investing when others are divesting, is the calling card of George Soros, one of the most famous financiers of the past half-century. The second most notorious trade of Soros came in 1997 when he saw a possibility that the Thai baht could go down. Banks and hedge funds soon started telling their clients to go on this bet as well. It fixed the pounds rate to the Deutsche mark in order to make the investments between Britain and Europe more predictable and stable. Since then, traders have been waiting for the yen to weaken.
On September 16, 1992 - a day known as " Black Wednesday " among currency traders - the British pound cratered against the German mark and the.S. This is how it happened:. As you can see from these examples, economic crises often offer the best opportunities for currency traders. Black Wednesday, the most notorious forex market event where Soros earned the nickname the man who broke the Bank of England because of the transactions he performed together with other traders against the. Can regular folks invest like George Soros? That said, dont judge Soros on his investment acumen alone. But he was dead wrong on the takeover value of the company, an expensive lesson he details in his book, The New Paradigm for Financial Markets. Learn how he shattered entire economic regions and made huge profits by betting on their weakness.
To uncover the nicknames of all the major currencies read. A headache or a backache has proven enough for him to abandon an investment. Once he confers with his team of analysts, making sure to review at least one contrary view to his strategy, Soros says he takes time to read and reflect before pulling the trigger. This started to happen at the end of 2012 when Shinzo Abe (then candidate for the Prime Minister post) publicly spoke about his plans to weaken the yen in order to boost the economy. Worst Investment: On March 14, 2008, George Soros purchased a huge chunk of Bear Stearns' stock, valued at 54 per share. If you want to learn more pro strategies of how to spot forex trading opportunities then have a look. His actions were often considered a triggering factor, which resulted in the big Asian financial crisis that affected not only Thailand but also South Korea, Indonesia, Malaysia, Philippines, Hong Kong and others.