EP74: BILLIONAIRE GEORGE SOROS – THE ALCHEMY OF FINANCE
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GEORGE SOROS
0:00we study billionaires in this is episode 74 of the investors podcast
0:21investing strategy your host Preston pish estate broker said hey how’s
0:36everybody doing out there this is Preston position on your host for the
0:39investors bought gas and as usual I’m accompanied by Michael those big
0:42brodersen out in Denmark and today we’re going to be doing another book written
0:46by a billionaire and this one is George Soros is booked and the name of this
0:51book is the alchemy of finance Stig I’m curious to hear your thoughts on the
0:56alchemy of finance I thought it was a pretty basic read something that was
1:00kind of obvious but pleased to hear your thoughts
1:04yeah I weren’t too crazy about it I gotta say the way that he was riding it
1:09was sometimes he was just a different wanna say he was rambling on cause it
1:13was a somewhat short book but it was like you really need to have her
1:16specific knowledge about special micro and macro economics because I love the
1:20books was about like by the comment theory was not correct but he really
1:26didn’t always explain the common theory so I think it was my main takeaway from
1:30that I thought it was a pretty basic books even those short it did go on
1:35kind of long you could have summarized it like a two or three peach white
1:38people in my personal opinion and I think the fancy name reflexivity is you
1:43know that’s the main theme of the book it’s pretty basic stuff and we’re going
1:47to Santa quickly cover this book were piling up and spend more than you know
1:51five or ten minutes on this and then we’re gonna move on into the second part
1:54of the show we’re going to be taking questions from the audience will
1:57probably play three or four questions from the audience in the episodes and
2:01that’s what we got for you so this book the alchemy of finance people that are
2:05familiar with George Soros I know his net worth is twenty three billion
2:08dollars he’s one of the wealthiest people in the entire world and he has an
2:13approach that he implements for investing in its very different than
2:16Warren Buffett or a lot of other Graham based value investors and Soros is
2:23obviously a macro investor
2:25and he makes these theories and he comes up with these ideas of what he thinks
2:30the market might do in a macro sense in the direction that I might move he comes
2:35up with that theory any test that theory in any kind of piles into a position as
