3min chapter

Masters in Business cover image

Ted Seides on the World’s Elite Money Managers

Masters in Business

CHAPTER

The Patsy at the Poker Table

Soros made a million-dollar bet with his friend Martha Pease. The pair wrote letters back and forth about the bet for years. Soros eventually decided to make it into a nonprofit, based on long-term educational beliefs. He bought a zero coupon bond to the present value and upfront.

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