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Forbes: How Soros Made $4 Billion Last Year

By    |   Sunday, 09 Mar 2014 04:19 PM

A short yen position and long U.S. stock positions helped George Soros, chairman of Soros Fund Management, take home $4 billion from his family office last year, Forbes reports.

Soros Fund Management is led by chief investment officer Scott Bessent. George Soros is involved, but not day to day.

The firm established its short yen position in November, hoping to take advantage of the Bank of Japan's easing. The firm reportedly made a $1 billion profit on the position early in the year, according to Forbes.

Editor’s Note: 18.79% Annual Returns . . . for Life?

Soros Fund Management began 2013 with 181 long U.S. stock positions valued at $8.4 billion, according to SEC filings, Forbes reports. At year-end, the firm had 237 positions valued at $11.8 billion.

Soros Fund Management delivered a total return of more than 22 percent in 2013, according to Forbes. That trailed the 32.4 percent return of the Standard & Poor's 500 Index, but it beat the 7.4 percent average for hedge funds compiled by Bloomberg.

Soros made out well on Herbalife, which soared more than 144 percent last year, but not on J.C. Penney, which plunged 54 percent.

Soros wasn't the only investment heavyweight to make big money last year.

The nine founders of the four biggest publicly-listed private equity firms hauled in a total of more than $2.6 billion last year, as the torrid rally in public stock markets helped the firms score major gains on their investments, The Wall Street Journal reports.

Heading the list was Leon Black of Apollo Global Management, at $546.3 million.

Editor’s Note: 18.79% Annual Returns . . . for Life?

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A short yen position and long U.S. stock positions helped George Soros, chairman of Soros Fund Management, take home $4 billion from his family office last year, Forbes reports.
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2014-19-09
Sunday, 09 Mar 2014 04:19 PM
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