The legendary investor George Soros stands high and mighty in the world of finance and philanthropy. I was very impressed by his first book The Alchemy of Finance and he ranks as one of my favorite investors and financiers in history. His intellectual works, philanthropic efforts, influence in political activity and his dedication to Sir Karl Popper’s Open Society concepts says a lot more of his character than just his famous reputation as a shrewd billionaire investor. These are also reasons why I like Soros over Warren Buffett.
This book is an easy read, and it puts the reader into an imaginative scenario alike to one having a cup of coffee with Soros himself. Wien and Koenen interviewed Soros and the book is formatted into a Question-And-Answer format. The book is split into two parts; the first part on his investing philosophy and practice, and the second part on his philanthropy and political activity. There is also an appendix included – a collection of essays from Soros himself on Open Societies, European Disintegration (this book is a 1996 book mind you!) and on Hedge Funds and Dynamic Hedging.
The interviewers explored Soros’ concept of Reflexivity and his building of Open Society Foundations in Eastern Europe following the fall of the Iron Curtain.
It is useful for anyone who wants to understand the man and his works and thinking. Mark Tier in his book, The Winning Investment Habits of Warren Buffett & George Soros, recommended Soros on Soros for anyone interested in understanding Soros as his other books are generally quite tough to go through and understand for the average reader.
Personally, I feel that though this book is a good start, it is only a beginning. It is too brief on his concepts which he reiterates in his other books, and it certainly does not do justice to his theory of Reflexivity.
If you could understand what Soros is trying to say in The Alchemy of Finance you might not need to catch this. However, the second part of this book would be for the reader who wants to understand more of his philanthropy and political activities.
Ferdinand’s Rating: 3.5/5
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