Soros stopped trading full-time in the late 80s. So his returns after that reflect his ability as a *manager* of traders, or a trader coach, rather than his ability as a trader. Also after Druckenmiller took a bath on dot.coms in 1999 and 2000, he changed the fund entirely to be a low risk vehicle seeking 10-15% per annum, quite different to his days as trader/PM.
Since pretty much everyone on this thread is only interested in his trading ability, not his coaching or people managing or marketing skills, I would suggest that his record from 1969 to 1988/89 is relevant, not his 1990-2009 "record", except maybe 2007-08 where he took over trading again and did respectably on absolute terms, and totally crushed the S&P. His 1969-1989 return is in the high 30s compound net of fees, meaning that his gross returns would have been in the mid 40s. There are very few people who have ever made 45% compound per annum for 2 decades. Bear in mind that, apart from Rogers, this was pretty much a solo performance, it's not like he had some kind of institutional edge like Citadel, Renaissance, SAC etc which have hundreds of alpha-generating employees and a technological, order flow, or insider information edge. Also bear in mind that those firms operated during a once in a lifetime bull market in the 1990s, so they were benefiting from a very strongly rising tide. Quantum made 40% per annum net from 1979-1981 under just Soros and Rogers, whilst the Dow was *flat* during the same period. I.e. 50% per annum pure alpha in trading ability. Soros was basically the Livermore of his generation but with proper risk management.
