the weeks leading up to Black Wednesday, Soros used his Quantum Fund to build a large position short of sterling. George Soros, george Soros was born in 1930 and began his financial career at Singer and Friedlander in London in 1954 after escaping Nazi-occupied Hungary during World War. This was played out in his famous sterling short, where the devaluation of the pound only occurred when enough speculators believed the BoE could no longer defend its currency. This approach downplays the importance of being right or wrong. First, he left PNB to create Duquesne Capital Management in the year 1981, and then he started to work for George Soros in 1988.
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