GEORGE SOROS LOST $1BILLION Following Donald Trump Win
Hedge fund legend George Soros lost a lot of money after the election of Donald Trump, according to a new report from The Wall Street Journal.
The Journal's Gregory Zuckerman and Juliet Chung cited people familiar with Soros' trading who said the billionaire became bearish after Trump's the victory, and those bets seem to have come back to bite him.
However, Soros' larger fund, Soros Fund Management, gained 5% over the year, according to the Journal.
Soros supported Trump's opponent, Hillary Clinton, and contributed millions to super PACs backing her campaign, so it may come as no surprise that he was skeptical of the market after Trump's upset victory.
Additionally, most Wall Street analysts believed that a Trump win would sow uncertainty and cause a sell-off. He bet wrong! Veteran hedge-fund manager George Soros lost nearly $1billion in weeks following Donald Trump's win George Soros, 86, lost nearly $1billion after stock market surged following Donald's Trump's election win in November Soros, who has net worth of $24.9billion, reportedly was cautious about the market going into the election and 'became bearish' after Trump won However, both stocks and treasury yields increased in the wake of Trump's win Soros Fund Management LLC, which manages roughly $30billion for the businessman and his family, was up five per cent at the end of 2015 However, both stocks and treasury yields increased in the wake of Trump's win. "George Soros" Soros Billionaire Billion Dollar USD "Stock Market" TRUMP Trading Funds Investment Investor "Jim Rogers" Market Bearish Rally Gold Silver "Forex Trading" Wall Street" Loss Loser Position 2017 2018 Portfolio Profit Finance "Soros Fund" management bank banking savings "savings account" GBP Pound Silver Bitcoin "Binary Trading" Money Cash Wealth Wealthy Rally "Sell Gold" "Buy Bitcoin" "Trade Gold" "Gold Vault" "gold Bullion" Millionaire Rich "Make Money" Forex "U.S. Dollar" CNY "elite nwo agenda" fake gold china tungsten jim rogers marc faber alex jones jsnip4 demcad coast to coast am
Despite the billion-dollar hit to his wallet, Soros Fund Management LLC, which manages roughly $30billion for the businessman and his family, was up five per cent at the end of 2015.
In the wake of the election, many experts predicted that stocks would fall, but on the contrary the Dow Jones Industrial Average has climbed 9.3 per cent.
During the election, Soros was a supporter of Hillary Clinton and he contributed millions of dollars to super PACS supporting her campaign for the White House. Soros called him a 'would-be dictator' and also warned that Trump's win could mean long-term health of democracy.
He also pledged $10million from his Open Society Foundation in late November to help the increase in reported hate crimes since the election.
Soros told the New York Times at the time that due in part to the 'incendiary rhetoric' of the President-elect, 'dark forces have been awakened' since his win.
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Posted by Nicole Bourbaki