File this under: Couldn’t happen to a nicer guy. According to the Wall Street Journal, the Billionaire Hedge Fund Manager, George Soros lost about One Billion Dollars in the weeks following Donald Trump’s election victory. That’s Billion with a “B”. Soros bet on Wall Street rejecting Trump and he lost… Huge.
Mr. Soros was cautious about the market going into November and became more bearish immediately after Mr. Trump’s election, according to people close to the matter. The stance proved a mistake—the stock market has rallied on expectations that Mr. Trump’s policies will boost corporate earnings and the overall economy.
As a result, some of Mr. Soros’s trading positions incurred losses approaching $1 billion, the people say. Mr. Soros adjusted his positions and exited many of his bearish bets late last year, avoiding further losses, the people added.
Try not to smile. Soros who has made his fortune on the back of collapsed economies, bet ours would fail and it didn’t. He apparently felt that he could finally take advantage of all the turmoil he helped fund through liberal causes. The old man came back to the firm for the money he speculated he would make on our Market Collapse.
Last year, Mr. Soros returned to trading at Soros Fund Management LLC, which manages about $30 billion for Mr. Soros and his family. Mr. Soros was lured back by the opportunities to profit from what he saw as coming economic troubles.
If George Soros wasn’t a commie sympathizer, Hollywood would be making a follow up to the “Big Short”. But Soros isn’t kind of villain they like. Never mind the vague eastern european accent, that he worked with Nazis and he could have walked right out of central casting. Soros won’t get the Hollywood treatment. Because they like his politics. The details of how Liberals obtain their money is nearly always deemed irrelevant.
This isn’t the first time Soros has attempted to cash in on political turmoil in the market. He made bank in 1992, when he profited off the collapse of the pound. Soros owned groups are also currently being pushed out of Hungary for his meddling in their economy.
Perhaps the rest of the world is getting wise to the damage Soros, his money and his agenda can bring. It does the heart good to know that George Soros bet against America, and it cost him a Billion dollars.