Archive | May 2016

George Soros’s Quantum Fund Gains $7 Billion from Shorting the British Pound

Today, George Soros is an American-Hungarian billionaire who is currently known as a prominent philanthropist, investor and author. George Soros is estimated to be worth about $23 billion and has given out almost $11 billion to charity through his Open Society Foundation. Soros first rose to fame by profiting billions from short selling the British pound in 1992.

In September 1992, Soros and his Quantum Fund, risked almost $15 billion on a bet that Britain would be forced to devalue its pound. In 1992, the whole market expected that Great Britain would inevitably devalue its currency. It was evident that no amount of currency purchasing and interest rate hikes would change that. By September, it was clear that Britain was going to exit the ERM after devaluing its currency.

Speculators like George Soros had done the math way before signs of the impending devaluation of the pound became evident and borrowed heavily to bet against this. Soros was by then leading Quantum Fund and together with his partners, they pocketed more than one billion dollars each.

The much Awaited Announcement

On September 16, 1992, Lamont called a press conference to announce the exit of Britain from the ERM and the subsequent floating of its currency on The speculators of the devaluation had been proven right and had pocketed billions in one trade.

Black Wednesday: September 17, 1992

Once Britain announced that it was devaluing its currency the previous night, the pound fell by a whopping 25 percent compared to the US dollar. In comparison to the Deutschmark, it fell by 15 percent. While many investors lost money, speculators who had shorted the British currency were smiling to their banks. Soros’ Quantum Fund had a $15 billion bet against the fall of the pound and after a few months, the fund had over $22 billion.

The fund had made over $3 billion the day after the pound was floated in the market. It increased from $15 billion to $19 billion. After a few months, it had reached $22 billion. From the trade, George Soros is said to have pocketed more than $1 billion and joined the billionaires club.

The Investment Prowess of George Soros

George Soros is credited to have led his fund, Soros Capital Management, to gaining over 30 percent consistently from 1979 to 2011. This shows the investment prowess of the billionaire who has amassed billions from his hard work and ingenuity in capital and financial markets. He is a master of accurately translating economic trends and making good judgment calls that earned his fund billions.

Soros is a seasoned short term speculator who made huge bets in financial markets and almost always won. He believes that most market participants move in herds and influence one another. Today, he is retired and is involved in various philanthropic activities. 

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CORIANT and new CEO Shaygan Kheradpir

There are many telecommunications companies in that particular field and among them is Coriant. Coriant was founded in the year 2013. It is a large corporation which has its headquarters located in four regions; the USA, Munich, Naperville, and Germany. The company is under the leadership of Shaygan Kheradpir. He is the Chief Executive Officer and Chairman of the enterprise and is assisted by Pat Dipietro the Vice Chairman. Coriant offers a wide array of products which encompass hardware and software worldwide. These products vary from Integrated Optical Planning Solutions, MSPP Solutions, and Packet Optical Transport solutions, Cross-Connect/TDM Solutions Intelligent Network Management, Edge Routing Solutions, Broadband Access and Optical LAN. The company has been a big player in telecommunications since it became an independent company from Marlin Equity Partners.

Shaygan Kheradpir the current CEO is a business and technology executive. He is an American citizen who was born on December 19, 1960, in London, UK. He attained a bachelor’s degree, a master’s degree and a doctorate in electrical engineering from Cornell University. Shaygan’s father was an ear, throat and eye doctor who practiced in Iran. Therefore, he grew up in Iran but later relocated to the USA to further his studies at university Shaygan Kheradpir had been employed at Marlin Equity Partners as an operating partner for a while. Shaygan’s expertise lies in telecoms industries, technology sectors and financial industries which he has all worked at for a period. He is extremely qualified with more than 28 years of experience and a doctorate under his sleeve.
After university, Shaygan was first an employee at GTE. GTE later became Verizon where he still worked. His competence and hard work at Verizon earned him the Executive Vice President and Chief Executive Officer positions. While still there he was part of a project called the fiOS program which went on to be one of the biggest infrastructure programs in the United States. He transferred from Verizon to Barclays where held the position of Chief Operations and Technology Officer and was made a member of the bank’s executive committee. He then moved to Juniper after a while where he also held a leadership position as the CEO. However, he worked at Juniper for less than a year before moving to Marlin Equity Partners. Shaygan Kheradpir has held other roles. From, 2007 to 2010 he was one of the Advisory Board of the YMCA of Greater New York from. Currently, he is a member of the Engineering Council at Cornell University. He has also sat on the board of the National Institute of Standards and Technology (NIST) from 2010 to 2013.

Check out Shaygan Kheradpir on LinkedIn and follow him on Twitter.