George Soros – The Man Who Broke The GBP

George Soros is a very smart man who has made some very smart investments throughout his career. His most famous trade, the one that netted him a cool billion dollars, was when he bet against the British Pound. Something that everyone thought he was crazy to do.

Let’s quickly recap on what went down so you can get a better understanding of how one man, that man being George Soros, was able to break the GBP.

The date was September 17th, 1992. While most people refer to this day as “Black Wednesday“, for George Soros it was probably one of the best days of his life. According to an article published on, the market was expecting Britain to devalue their currency.

And at the time, there was nothing that could be done to prevent this from happening. It was basically a foregone conclusion. Now the world was just waiting to see if speculators had the courage to put their money where their mouth was. If they did, this self-fulfilling prophecy would come true.

Around 7:30 PM that night, a news conference was held by Lamont. During the news conference an announcement was made and low and behold, George Soros was right. Britain was exiting the ERM and their currency was floating on the market.

What happened next is something that you usually only hear about in the movies. Once Great Britain decided to float its currency on the market, the pound immediately fell 25% versus the US Dollar. It also fell 15% versus the Deutschmark.

Soros’ fund, then referred to as the Quantum Fund, had borrowed billions of dollars to make this one trade. And though it was risky, George Soros was able to secure the funds he needed to make the trade. In all the fund bet $15 billion that the value of the pound would fall versus other currencies.

Boy was Soros right. As soon as the pound floated the value of his fund increased by $4 billion dollars. It went from $15 billion to $19 billion in a matter of seconds. A few months later the fund was worth close to $22 billion. Read more at

Being that this was a hedge fund, Soros and his partners made at least 20% of the upside which was $7 billion. They basically each made just under $1.5 billion dollars. And that my friends is how one man broke the GBP and made over a billion in one day. 

The Success of Andy Wirth

Andy Wirth is among the rare individuals who has had a passion for the same thing ever since an early age. In this case Andy Wirth has had a passion for combining the beauty of wildlife with business. Learn more about Andy Wirth: and

This is demonstrated by the fact that he is the current owner of the Squaw Valley Ski Resort, a luxury ski resort located in Northern California. Squaw Valley Ski Resort is located within the Olympic Valley which was once home to the Winter Olympics and is currently still useful for training athletes.

Andy With, in attempt to gain more traffic through Olympic Valley, was recently appointed to become the chairman of the Reno-Tahoe Airport Authority Board. Andy Wirth hopes to use this new position to gain more traffic through the area by way of airplane.

Andy Wirth knew at a young age that he wanted to have a career that involved watching and being near wildlife. In addition to this, Andy Wirth desired to share his passion for wildlife with other individuals around the world. Mr. Wirth acquired this luxury resort in 2010, and has since then made multiple initiatives to renovate the resort for a much needed upgrade.

The resort itself has been open for over 70 years with the original owners being the Cushing family. The Cushing family transferred the company over to Andy Wirth in hopes that Mr. Wirth would be able to grow the company even further and make renovations and investments for the future. Read more: Just Breathe: Andy Wirth on the Upswing in Tahoe and Andy Wirth — KCRW

Andy Wirth, since his acquirement of the resort, has set forth to start a $70 million renovation plan that will not only bring in more tourists, but will also secure the resort’s spot as one of the top resorts in the country.

Only six years after buying the resort, Andy Wirth has already improved the resort enough to be considered in the top 20 percent of resorts in the United States. Andy Wirth is considered to be an innovator and wants to continue to expand the business. His investment in technology as well as versatility has secured the resorts sport in success for the future.