Fund Lessons From George Soros

NEW YORK (TheStreet) -- Analysts continue to remain split on a number of issues regarding the future of the global economy. Amid the confusion, a number of big names in the world of finance have shared their two cents on the issue.

On Monday from Istanbul, George Soros said the U.S. should be prepared for a long, slow recovery, with Americans weighed down with debt and the banking system struggling.

Soros' forecast is not one to be taken lightly. This world famous hedge fund manager and philanthropist made a name for himself by successfully acting on a number of bold predictions. Today, Soros is listed as the 29th richest man in the world.

Soros was born in Budapest, Hungary, in 1930. His father, Tivadar Schwartz, took the name Soros after fleeing Russia as a prisoner of war during World War I. It was in Hungary, at the age of 15, that Soros began trading currencies.

In 1947, Soros emigrated to England. He graduated from the London School of Economics in 1952. Four years later, he moved to New York City, where he worked for a number of different companies and expanded his knowledge of the financial markets. In 1963, he landed a position as vice president with Arnhold and S. Bleichroeder.

At Arnhold and S. Bleichroeder, Soros and fellow financier Jim Rogers organized an offshore hedge fund that would, in 1973, become known as the Quantum Fund. The success of this fund is the source of most of his wealth. The Quantum Group of Funds is run by Soros' company, Soros Fund Management.