This day in history August 12, 2019
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Started by metmike - Aug. 11, 2019, 8:58 p.m.

Read and learn about history. Pick out a good one for us!

1953 – The first testing of a real thermonuclear weapon (not test devices): The Soviet atomic bomb project continues with the detonation of "RDS-6s" (Joe 4), the first Soviet thermonuclear bomb.

1964South Africa is banned from the Olympic Games due to the country's racist policies.

By carlberky - Aug. 11, 2019, 9:47 p.m.
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Born August 12,1930George Soros, Hungarian-American businessman and investor, founded the Soros Fund Management

Soros began his business career by taking various jobs at merchant banks in the United Kingdom and then the United States, before starting his first hedge fund, Double Eagle, in 1969. Profits from his first fund furnished the seed money to start Soros Fund Management, his second hedge fund, in 1970. Double Eagle was renamed to Quantum Fund and was the principal firm Soros advised. At its founding, Quantum Fund had $12 million in assets under management, and as of 2011 it had $25 billion, the majority of Soros's overall net worth.

Soros is known as "The Man Who Broke the Bank of England" because of his short sale of US$10 billion worth of pounds sterling, which made him a profit of $1 billion during the 1992 Black Wednesday UK currency crisis.

Based on his early studies of philosophy, Soros formulated an application of Karl Popper's General Theory of Reflexivity to capital markets, which he claims renders him a clear picture of asset bubbles and fundamental/market value of securities, as well as value discrepancies used for shorting and swapping stocks.  

Between 1979 and 2011, he donated more than $11 billion to various philanthropic causes; by 2017, his donations "on civil initiatives to reduce poverty and increase transparency, and on scholarships and universities around the world" totaled $12 billion.

His extensive funding of political causes has made him a "bugaboo of European nationalists". Numerous American conservatives have promoted false claims that characterize Soros as a singularly dangerous "puppetmaster" behind a variety of alleged global plots.

By metmike - Aug. 12, 2019, 2:16 p.m.
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Thanks carl!