Soros lost $1B betting Trump would cause stocks to crash
Soros lost $1B betting Trump would cause stocks to crash
January 12, 2017, Yahoo Finance
Billionaire George Soros, a major Hillary Clinton supporter, lost close to $1 billion in trades by betting stocks would collapse after Donald Trump’s stunning victory in November, it was reported Thursday. Instead, the Dow Jones Industrial Average has soared 9.3 percent. The lefty hedge-fund manager – who donated millions to Clinton and returned to last year to managing his $30 million Soros Fund Management LLC — placed bearish bets because he thought the economy was headed south after Trump’s election, according to the Wall Street Journal. The paper said Soros’ fund still managed to gain 5 percent on the year – but that was half the 10 percent gain registered in a fund run by his former deputy Stanley Druckenmiller, who correctly predicted that stocks would first tumble then spike if Trump won.
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Nobody was more deserving.
You are as objective as ever Buzz, lol.
I'm no less objective than you, John. LOL as well.
Couldn't happen to a nicer guy.
Good news indeed. That should hurt the Democrats he bought.
He put his money where Hillary's mouth was and lost his ass.
I hope he's lost even more since then.
Pocket change.
The financial markets do not like uncertainty. That was apart of the calculation of not only Mr. Soros but other investors and market commentators.
It turned out not to be correct.
The market has risen.
The market likes the thought of more tax cuts over and above uncertainty about White House fiscal policy, it seems.
If the tax reforms proposed by Ryan, Pense et al. do not come to pass, Soros may still be right. But not for the original reasoning.
Only time will tell us what the ultimate disposition of this matter will be.
As Jack Bogle, Financial Guru and founder of Vanguard Investments often said, you cannot consistently time a market.
You can index through it, rise and fall with it through diversity of asset classes.
Where ever you put your money, it was and remains to this day good advice.
Enoch, Hopefully Buying Low and Selling High.