Latest news with #SorosFundManagement
New York Post
11-07-2025
- Business
- New York Post
Trump and George Soros have this character trait in common, Treasury Secretary Scott Bessent says
President Trump and left-wing billionaire financier George Soros have more in common than previous thought, according to someone who has worked for both men. Treasury Secretary Scott Bessent told an exclusive audience of billionaires at the annual Allen & Co. conference in Sun Valley, Idaho, this week that both men share a common personality trait: impatience when navigating high-stakes negotiations. People in the room told Bloomberg News on condition of anonymity due to the closed-door nature of the event that Bessent made the comparison after being asked by the moderator to reflect on his time working for both Soros and Trump. 4 Treasury Secretary Scott Bessent was asked to reflect about his time working for left-wing billionaire financier George Soros. REUTERS The conference, often referred to as the 'summer camp for billionaires,' is off-limits to journalists and the public. Bessent told the crowd that Trump and Soros are alike in their temperament, demands and impatience, particularly when implementing decisions after identifying problems and solutions. The secretary, who began his association with Soros in 1991 when he joined Soros Fund Management shortly after graduating from Yale University, noted that he often advises the president to be patient as they navigate the rollout of trade announcements. Despite Trump's impatience, Bessent credited the president with a sharp instinct for identifying problems and devising effective responses. He also downplayed concerns that the administration's aggressive tariff policy was contributing to inflation and predicted two interest rate cuts by the end of the year. Bessent told the group that long-term borrowing costs would likely return to pre-pandemic levels. He noted that investors are currently pricing in one and a half cuts this year due to strong economic data, according to one attendee. 4 Bessent drew a provocative comparison between his current boss, President Trump (above), and his former mentor, the Hungarian-born Soros. Getty Images A spokesperson for the Treasury Department and the White House were not immediately available to comment. The Post has sought comment from Soros. Before being appointed Treasury secretary under Trump, Bessent worked twice at Soros Fund Management, eventually rising to the role of chief investment officer before launching his own hedge fund. He quickly advanced within the firm, eventually becoming the head of SFM's London office. In that role, Bessent played a pivotal part in executing one of the firm's most famous trades: the 1992 'Black Wednesday' bet against the British pound. This trade netted Soros's fund more than $1 billion and helped establish Bessent's reputation as a talented macro investor. He is frequently described as a protégé of Soros, having learned directly from the financier and made significant contributions to SFM's investment strategies. 4 Trump and Soros exhibit an impatience when navigating high-stakes negotiations, according to Bessent. AFP via Getty Images In 2015, after leaving Soros Fund Management, Bessent founded his own hedge fund, Key Square Group. He launched the fund with a substantial $2 billion anchor investment from Soros. The financial backing underscored the continued strength of their relationship. Although Soros's capital remained in the fund for several years, it was eventually withdrawn in 2018 as Key Square diversified its investor base. Soros, through his Open Society Foundations, has spent over $32 billion advancing left-wing causes around the world. In the US, he's backed radical criminal justice reforms, including soft-on-crime prosecutors, bail elimination and drug decriminalization. Soros, who at age 94 has largely receded from public life and has handed the reins of his empire to his son, Alex, is one of the Democratic Party's biggest donors, funneling hundreds of millions into liberal Super PACs and candidates like Barack Obama, Hillary Clinton and Joe Biden. He also funded efforts to oppose Trump and other conservatives. In the 2022 midterms alone, Soros was the single largest political donor, contributing over $125 million to left-wing political groups and campaigns. Bessent has taken on an unusually prominent role for a Treasury chief, serving as the lead negotiator in ongoing trade talks with China, Japan and other Asian countries. 4 Soros, 94, has stepped back from public life. He has handed the reins over to his son, Alex Soros (left). alexsoros/Instagram He is scheduled to visit Japan next week, although the Treasury Department has stated that trade will not be a topic of discussion. Meetings with Chinese officials and Indonesia's coordinating minister for economic affairs are also expected to take place soon. During his remarks in Sun Valley, Bessent pushed back against critics who claim Trump often escalates trade conflicts only to back down. He dismissed the label 'TACO trade,' a term coined by a Financial Times columnist meaning 'Trump Always Chickens Out.' Instead, Bessent characterized Trump's approach as more aggressive and likened it to the acronym 'FAFO,' which stands for 'F— Around and Find Out,' a phrase popular on social media.
South China Morning Post
24-06-2025
- Business
- South China Morning Post
Asian family offices expand US footprint: Andon Hong Kong opens New York office
Investment firm Andon Hong Kong is opening an office in New York to deepen its push into alternatives. Advertisement Soros Fund Management alumnus Chuck Sun will lead hedge-fund manager selection from the new location. It's an area that Sun specialised in at billionaire George Soros' family office. The firm manages money on behalf of Shenzhen-listed Andon Health, a Chinese maker of medical devices like blood pressure monitors and Covid test kits. 'We plan to add more hedge fund allocation and build broader and deeper connections with private market managers in New York,' said Jason Guo, chief investment officer of Andon Hong Kong, which manages several billion dollars. The move underscores a deeper push by the Chinese company's investment arm into hedge funds and private markets. Andon has hired a hedge fund allocation analyst in New York to support the expansion. Advertisement Even as some of the world's biggest money managers point to an unwinding of US assets, a number of Asian family offices are bucking the trend. Nan Fung Trinity, the financial investment and family office arm of Hong Kong conglomerate Nan Fung Group, also has plans to set up an office in New York, Bloomberg reported last month.
Bloomberg
23-06-2025
- Business
- Bloomberg
Ex-Soros Hedge Fund Picker Sun Leads Andon's Push Into US
Investment firm Andon Hong Kong Ltd. is opening an office in New York, led by Soros Fund Management alumnus Chuck Sun. The US operation will initially focus on hedge fund manager selection, an area in which Sun specialized at billionaire George Soros' family office. The firm manages money on behalf of Shenzhen-listed Andon Health Co., a Chinese maker of medical devices like blood pressure monitors and Covid test kits.
Nikkei Asia
19-05-2025
- Business
- Nikkei Asia
Soros, other US investors lock in profits on China's DeepSeek tech boom
TOKYO -- Prominent U.S. investors like Soros Fund Management and Appaloosa sold off large amounts of Chinese technology stocks in the January-March quarter, Nikkei has found, in what could be seen as an effort to lock in profits before Sino-American trade tensions flared after the return of President Donald Trump. The analysis covered filings as of the end of March for Form 13F, which institutional investors with stockholdings at least $100 million must submit quarterly to the U.S. Securities and Exchange Commission.
Yahoo
02-05-2025
- Business
- Yahoo
Cloudflare, Inc. (NET): Among Billionaire George Soros' Mid-Cap Stocks With Huge Upside Potential
We recently published a list of . In this article, we are going to take a look at where Cloudflare, Inc. (NYSE:NET) stands against other billionaire George Soros' mid-cap Stocks with huge upside potential. George Soros is one of the most successful investors in the stock market's history. He founded the Soros Fund Management, which currently manages over $6.6 billion in assets. His fund often makes contrarian moves that catch the attention of Wall Street and retail investors alike. Alex Soros, one of George Soros' sons from his second marriage, was handed over the reins in 2023. When investors like George Soros invest in companies, they usually have solid reasons to do so. This is why keeping an eye on their holdings is so important. We decided to take a look at George Soros' Mid-Cap stock holdings to see what mid-cap stocks he is betting on. To come up with our list of billionaire George Soros' 10 Mid-Cap stocks with huge upside potential, we first looked at his top 50 stock holdings. We then filtered out the companies between $10 billion and $40 billion in market cap. After arriving at his top mid-cap holdings list, we then looked at the median analyst price targets on those stocks and then ranked them by their upside potential. We have also mentioned the hedge fund sentiment as per Insider Monkey's database of Q4 2024. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). An artfully detailed shot of a computer monitor displaying a streaming video from Xunlei Media Player, demonstrating the company's online media capabilities. Soros Fund Management's Stake Value: $82.5 Million Number of Hedge Fund Holders: 55 Cloudflare, Inc. is a cloud services provider that offers a variety of services to businesses. It offers an integrated cloud-based security solution and website and application security products. According to the median analyst price target, the stock still has an upside of 44.45%. The firm received an upgrade last month from Bank of America Securities. Citing its improving fundamentals, BofA Securities upgraded the company from Underperform to Buy with an increased price target of $160 from $60. As a result, the share price rose about 6%. Analysts led by Madeline Brooks highlighted two growth catalysts for Cloudflare: 'The company offers a differentiated approach to AI, and we place a high probability on Cloudflare becoming the leader in AI-as-a-Service (AIaaS), which we expect will be the AI consumption method of choice for Enterprises.' A similar sentiment was shown by Mizuho a few days ago. Mizuho upgraded the stock from Neutral to Outperform due to growing AI momentum and potential for acceleration. Despite analysts' optimism about NET's AI opportunities and innovation, the firm slightly lowered its price target from $140 to $135. Regardless of macroeconomic uncertainty, analysts think that the risk/reward is attractive with the recent share price decline Overall, NET ranks 4th on our list of billionaire George Soros' mid-cap Stocks with huge upside potential. While we acknowledge the potential of NET as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than NET but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: and . Disclosure: None. This article is originally published at . Sign in to access your portfolio
