George Soros is a man of many talents. After having graduated from high school with high honors, he was accepted to the London School of Economics, where he studied under renowned political science philosopher Karl Popper. After graduating, Soros went on to have one of the most spectacular careers in the history of modern finance. After taking over his own hedge fund, Soros proceeded to produce 25 percent per annum returns, making him one of the greatest investors who have ever lived. Know more on cnbc.com about George Soros.
There is absolutely no question the George Soros is gifted with preternatural abilities, which he has largely used to do good things in the world. Among billionaires, Soros is an extremely unusual case. Without any intention at all of becoming involved in capitalism or the markets until he was much older, Soros had only the desire to pursue the life of the mind. His goal had always been to save just $500,000 so that he could retire and dedicate his life, full time, to the study of philosophy and the development of his own philosophical ideas.
But reality intervened. After graduating from college, Soros could not find suitable employment for a man of his intellectual capacities and credentials. He ended up taking a series of menial jobs, including as a traveling salesman and working a series of convenience store type jobs where he cashiered on the night shift. After doing this for a period of years, Soros realized that the grinding lifestyle of thoughtless employment was not his calling in life. It was only then that he became interested in pursuing a life in finance for the first time.
He sent out resumes to nearly every investment house in London and New York. This involved literally hundreds of resumes being sent, to which he only received a mere few replies. One of those firms was Singer and Friedlander, a New York investment bank that had been founded in the late 19th century. Soros accepted employment there and quickly began rising through the ranks.
Although he was a good employee, many of his co-workers from that period of his life say that Soros was primarily interested in continuing to study and develop his philosophical understanding. During this time, Soros developed his seminal theory, the theory of reflexivity. Although it is now recognized as an important contribution to the theoretical basis of high finance, at the time, Soros was largely laughed at by his financier compatriots. His theory held that, contrary to the reigning orthodoxy of efficient market theory, market participant were frequently totally irrational and the prices of assets were, in large part, determined by the actors own perception of other actors, not the underlying fundamental value of the asset. Read his profile at Washington Times.