The energy market has been unpredictable of late due to the freeze on oil production in Saudi Arabia and Russia. Prices too have fluctuated with the cost of crude oil in the US changing to $29.64 a downfall of 73% from 2014. The publication on The Street shows that George Soros a Hungarian-born billionaire withdrew all his stocks in the energy sector. Soros through the Soros Fund Management offloaded their stocks in Chevron, NRG Energy and in Chesapeake Energy. The billionaire is known to make wise investments that have earned him fortunes to date. Investors should heed Soros example as the market situation might collapse and leave many suffering losses. George Soros is yet to reveal whether he knows something everyone is missing or not. Click here to read further on the energy sector crisis.
George Soros was born in Budapest and moved to England during the Nazi Invasion. He studied at The London School of Economics and moved to America to establish himself. He began his philanthropic works a while ago. Some of his major works include the scholarships he awarded black south Africans who were under the Apartheid. Through his Open Society, he was able to support paralegals especially those representing people who have been unlawfully arrested. He also helped in the creation of the international system that was beneficial to mining companies and the system prevented them from ever making payoffs to native tyrants. Soros has also supported a number of organizations such as the Institute of New Economic Thinking, International Crisis Group, Global Witness and the European Council on Foreign Relations.
According to Forbes magazine, George Soros manages over $29 billion. The hedge fund expert has made it through the money markets and was listed to be the top earning hedge fund manager by the magazine. At 83, George is not actively involved in running Soros Foundation and it under the leadership of Scott Bessent. Soros is an outspoken person especially in advocating towards humanity. In his recent issue on the refugees of Syria, he advised the European Union to make it possible for them to receive more than a million asylum seekers. He further instructed them to be weary of their dealings with Russia as it aims at collapsing the union so as to avoid further sanctions that imposed on the country. In the economic markets, Soros is well known for the 2008 market crisis prediction that ever investor ignored him. He also warned investors against making risky investments as the future of the Chinese Yuan is unpredictable, and it is bringing problems to the rest of the world. George has authored a number of books that elaborate his approach to making investments. Some of his well-known works include the Open Society, Soros on Soros: Staying Ahead of the Curve among other books.