As Soros Fund Management Reduces Macro Bets, Robert Soros Starts His Own Fund

Just like a great athlete makes playing sport looks easy, so, too can investment managers make great fundamental predictions and resulting profits look easy. George Soros making his historic bet against the British pound, the trade that “broke the Bank of England,” was one such amazing feat. What made him stand out, however, was his ability to repeat macro prediction success throughout his career. Many fund managers find making that big macro bet on a prediction can be a non-repeatable event, as fund manager John Paulson proved after his major 2008 win that has yet to prove repeatable to scale. Predicting such mega events is not only difficult, but because they occur on a relatively rare basis, win...