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yes soros is falliable like us all it was very seductive at the end of dec
98 that the euro would at least hold if not apprecaite agst the usd -------
acct defecit,portfoliio flow into euro,asian cbs divesting usds into euros,
the presdency under impeachmant...... so soros and druckenmiller can also
fall for the same logic
please dont think that these guys are infalliable..... most of the time they
use there superior leverage ,funds and contacts to give them greater staying
power
-----Original Message-----
From: Mervin Yeung <tinyeung@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Friday, May 14, 1999 9:29 PM
Subject: Soros
>Hi RTs,
>
>http://cnnfn.com/quickenonfn/investing/wires/9905/14/soros_wg/
>
>It says that Soros' Quantum Fund lost money because it bet against the
>dollar. How could that be?! I can't believe it.
>
>Academic macro-economic theory indeed concludes that US Dollar will
>weaken against Euro, D.Mark because of current account deficit. But, if
>I understand it correctly, Soros considers academic economic theories
>are useless. Then, why does he follow it? Maybe it was Druckenmiller's
>idea, not Soros'.
>
>Druckenmiller could have read The Alchemy of Finance to figure it out
>that US Dollar should strengthen due to capital inflow.
>
>Good trading!
>
>Mervin
>
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