In this article let's take a look at George Soros (Trades, Portfolio), who is recognized for having the best performance record of any investment fund in the world over its 26-year history. Since 1969, when Soros established the Quantum Fund, he achieved a cumulative 32% annual return.
Soros has decided to raise the bet on Spain, to gain 0.5% Liberbank S.A. (LBK.MC) in an operation valued at 5 million euros. Liberbank, which took rescue funds during Spain's financial crisis, in June completed a 475 million euro ($645 million) capital hike, so it can repay debt and bolster its finances. "There were about 20 anglo-saxon funds who bought into (the operation), and Soros was among those," a spokesman of the company said, adding that the U.S. investor's holding represented between 0.5 percent and 1 percent of Liberbank's capital. Spain received 41,300 million euros in 2012 from its European partners to assist weaker financial sector entities, including Liberbank, who needed 124 million euros in the form of convertible bonds into equity. Continue Reading »