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George Soros – the greatest trader in history

In 1930, the future greatest trader of all time was born in Hungary. Born with the surname Schwartz, George Soros’ father opted to change the family surname due to the prevailing anti-Semitic climate on opensocietyfoundations.org at that time. This concealment would later prove wise, as Soros’ other relatives were deported to Nazi death camps, never to be heard from again.

Losing his aunts and uncles had a profound effect on the young George Soros, who developed a keen interest in political philosophy and how it can shape the societies in which we live. To this end, he applied to the London School of Economics in 1947. He was accepted and began studying under the world-renowned philosophy professor Karl Popper. Popper was a pragmatic scholar whose seminal work, “The Open Society and Its Enemies”, influenced Soros profoundly. Later, Soros would name his main philanthropic vehicle, The Open Societies Foundations, after the iconic, eponymous book.

Upon graduating with a master’s degree in philosophy, George Soros joined the labor pool and went to work in a string of jobs that he later reflected on as having been a numbing bore. This soul-crushing, menial labor, which included stints as a traveling salesman, gave Soros the kick necessary to seek out grander pursuits. Uninterested in the life of the working class, Soros resolved to go to Wall St. and join one of the great investment banks on Forbes.

On a recommendation from a college friend, he was hired at his first financial job, at the firm Singer and Friedlander. Over the next 15 year, Soros worked at a series of trading houses on nytimes.com, from large to small, eventually rising to the level of vice president. His colleagues from that epoch describe him as being lackadaisical about his duties as a trader and stock analyst but much more dedicated to the development of his own philosophic theories, particularly those regarding the functioning of markets.

In 1973, at the age of 43, he was finally able to break away from the drudgery of the trading office and helm his own ship. Starting George Soros’ first hedge fund, Soros Fund Management, he quickly attracted capital from some of the biggest names in global finance, such as the Rothschilds and Rockefellers. Even so, Soros’ primary motivation seemed to rest less on the accumulation of personal wealth and more in the ability to test his theories of the inner workings of financial markets.

Over the next 43 years, Soros Fund Management morphed into the now world-famous Quantum fund. Soros racked up an astonishing 25% annualized returns over more than 43 years, a feat perhaps singular in the history of financial markets. Today, Soros Fund Management is widely regarded as the most successful hedge fund in history. In one of his most famous exploits, Soros made over $1 billion on a single trade when he bought $10 billion in put options, at the time his entire capital, and forced the Bank of England to withdraw from its interest rate obligations and devalue the Pound Sterling.

Through adroit trades and sophisticated analysis, George Soros has rightfully earned the admiration of the financial world and taken his place in history.

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Rutgers Cancer Institute in New Jersey Receives A $1.5 Million Pledge from Omar Boraie

Urban developer and philanthropist, Omar Boraie pledges $1.50 million to the Rutgers Cancer Institute, a research & development institution, in N.J. The pledge was made to meet the ’18 Chair Challenge Campaign initiated by a donor who encourages other donors to match $1.5 million. Mr. Boraie made his contribution in 2015 and holds the Endowment Chair to support the institution and further advance precision medicine. He is hoping that others are inspired to support the institute and join the campaign as he was to help cancer patients. The challenge is for a good cause and expected to provide millions of patients alternatives for genomic science treatments and diagnosis.

Omar Boraie has years of involvement in cancer research and experience in chemistry, based on a report issued by Newswise News, in October 2015.The Chair at Rutgers Cancer Institute represents the standard of higher education and the commitment of the institution and university. New Jersey State University is part of the institute and the state’s only national institution inclusive cancer center. Boraie Development LLC, a property management company and developer of residential and commercial real estate helped to develop the healthcare community in New Brunswick.

Rutgers Cancer Institute will use all proceeds donated to the ’18 Chair Challenge to support the advancement of precision medicine. The medical treatment involves analytical study of the patient’s genetics and treating tumors based on result from genetic testing. It provides oncologists with the ability to prescribe therapies for cancer patients that meets individual needs. The much-needed alternative treatment is good news to patients who are experiencing non-responsive cancers and need a different medicine approach. Omar Boraie is hoping the Boraie Family’s pledge exceeds the expectation of the ’18 Chair Challenge Campaign and fulfil the mission of the institution.

The vision Omar Boraie had for New Brunswick for more than 35 years (http://www.njbiz.com/article/20141230/NJBIZ01/141239989/the-visionary-omar-boraie-has-seen-the-potential-of-new-brunswick-for-four-decades) after moving from Egypt to the United States is now reality. He has overseen the family owned company for decades and serves as the President of Boraie Development. With his sons, Waseem and Sam Boraie serving as Co-presidents, the real estate development and management firm successfully completed The Aspire project. According to Bloomberg.com, the luxury building is adjacent to the Children’s Cancer Institute and was built to attract nurses, doctors, specialists, professors, and teachers. Mr. Boraie ties to the New Brunswick Downtown community extends to support for research & development and providing luxury accommodations to professionals.