"Turistas não vêm para os territórios visitar florestas de vidro", diz Turismo do Alentejo

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Currency speculation

On September 16, 1992, Black Wednesday, Soros's fund sold short more than $10 billion worth of pounds,[27] profiting from the UK government's reluctance to either raise its interest rates to levels comparable to those of other European Exchange Rate Mechanism countries or to float its currency.

Finally, the UK withdrew from the European Exchange Rate Mechanism, devaluing the pound sterling, earning Soros an estimated $1.1 billion. He was dubbed "the man who broke the Bank of England".[31] In 1997, the UK Treasury estimated the cost of Black Wednesday at £3.4 billion.

On Monday, October 26, 1992, The Times quoted Soros as saying: "Our total position by Black Wednesday had to be worth almost $10 billion. We planned to sell more than that. In fact, when Norman Lamont said just before the devaluation that he would borrow nearly $15 billion to defend sterling, we were amused because that was about how much we wanted to sell."

Stanley Druckenmiller, who traded under Soros, originally saw the weakness in the pound. "Soros' contribution was pushing him to take a gigantic position."[32][33]

In 1997, during the Asian financial crisis, the Prime Minister of Malaysia Mahathir bin Mohamad accused Soros of using the wealth under his control to punish the Association of Southeast Asian Nations (ASEAN) for welcoming Myanmar as a member. Following on a history of antisemitic remarks, Mahathir made specific reference to Soros's Jewish background ("It is a Jew who triggered the currency plunge"[34]) and implied Soros was orchestrating the crash as part of a larger Jewish conspiracy. Nine years later, in 2006, Mahathir met with Soros and afterwards stated that he accepted that Soros had not been responsible for the crisis.[35] In 1998's The Crisis of Global Capitalism: Open Society Endangered Soros explained his role in the crisis as follows:

The financial crisis that originated in Thailand in 1997 was particularly unnerving because of its scope and severity.... By the beginning of 1997, it was clear to Soros Fund Management that the discrepancy between the trade account and the capital account was becoming untenable. We sold short the Thai baht and the Malaysian ringgit early in 1997 with maturities ranging from six months to a year. (That is, we entered into contracts to deliver at future dates Thai Baht and Malaysian ringgit that we did not currently hold.) Subsequently Prime Minister Mahathir of Malaysia accused me of causing the crisis, a wholly unfounded accusation. We were not sellers of the currency during or several months before the crisis; on the contrary, we were buyers when the currencies began to decline – we were purchasing ringgits to realize the profits on our earlier speculation. (Much too soon, as it turned out. We left most of the potential gain on the table because we were afraid that Mahathir would impose capital controls. He did so, but much later.)[36]

The nominal U.S. dollar GDP of the ASEAN fell by $9.2 billion in 1997 and $218.2 billion (31.7%) in 1998.

http://en.wikipedia.org/wiki/George_Soros

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George Soros anuncia reforma depois de 40 anos a investir nos mercados
Publicado em 26 de Julho de 2011 | Actualizado há 1 hora

O bilionário George Soros, um dos investidores mais famosos do mundo, revelou hoje que vai fechar o seu fundo de investimento de 17,6 mil milhões de euros, colocando um ponto final numa carreira de mais de quatro décadas.

Soros é de origem húngara e estudou em Londres, após a Segunda Guerra Mundial, completa 81 anos no próximo mês e ficou conhecido internacionalmente depois de ter feito uma aposta contra a libra estrelina, no início da década de 90, que levou à sua forte desvalorização e que lhe rendeu mil milhões de dólares (quase 700 milhões de euros).

"Queremos expressar o nosso agradecimento a todos os que investiram no Soros Fund Management LLC durante os últimos 40 anos. Esperamos que se tenham sentido bem recompensados", lê-se numa carta dirigida aos investidores e assinada por George Soros e os seus filhos Jonathan e Robert, citada pela agência Bloomberg.



A alteração da legislação norte-americana que regula os 'hedge funds' ditou esta decisão, já que o fundo de Soros teria que se registar junto da Securities and Exchange Comission (SEC), a autoridade que supervisiona os mercados dos Estados Unidos, em março de 2012.



A partir de agora, o Soros Fund Management será transformado num 'family office', de acordo com a informação prestada pelo investidor, que controla mais de 16,5 mil milhões de euros em ativos detidos por si próprio, pela sua família e pelas suas fundações.

http://www.ionline.pt/conteudo/139456-- ... s-mercados