Soros Lay Offs ‘Normal Course of Business’

It seems Julian Robertson wasn’t kidding when he said the hedge fund industry is “tough.” Even successful fund manager heavyweights like George Soros have to cut back once in a while.

Soros Fund Management, which became a family office earlier this year after returning outside capital to investors, “has laid off a handful of analysts and portfolio managers,” predominantly stock managers, reports Reuters. hedge fund research

“The moves came after the New York-based fund hired a new chief investment officer, Scott Bessent, in September, and after it closed its doors to outsiders in July by reorganizing into a so-called family office to exclusively oversee the Soros family’s personal fortune.” A spokesman for Soros said that the layoffs were part of the normal course of business.

And, Soros certainly seems to know his business. Soros received the moniker, “The Man Who Broke the Bank of England,” “by earning $1 billion with a bet against the British pound two decades ago.” Today, his fund “is said to be faring relatively well in a down year, is not facing widespread investor redemptions, and is still making bellweather bets.”

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click Here to Read Comments
X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!