In June 2008 I was walking down Fifth Avenue and saw George Soros’ new book “The New Paradigm for Financial Markets: The Credit Crisis of 2008 and what it means.” I bought the book, read it, and thought to myself “whew, let’s hope this guy is wrong”. Unfortunately, he was right on the money, and the global financial and housing crisis is almost exactly as he predicted. The video above from 2006 further validates his foresight. He has been politically outspoken and has provoked some passionate rhetoric from the left and the right. Love him or hate him, one can’t argue with his success and foresight.He is one of the few billionaires (estimated above $9 billion) who’s net worth is growing, not shrinking. I would love to know a few things from him. Namely…….
1) What do you think of the stimulus plan?
2) Can you explain to me why Czech prime minister Mirek Topolaneka calls the plan a “way to hell” that will “undermine the stability of the global financial market”?
3) What is your outlook for the housing market in the next 12 months?
4) When will we hit bottom (if we haven’t already)?
I’m hoping to see a new book from him soon that will answer some of these questions, and more. I’ll certainly be paying attention!