Zam-Zam
Senator
He bet against America, and lost:
Billionaire hedge-fund manager George Soros lost nearly $1 billion as a result of the stock-market rally spurred by Donald Trump’s surprise presidential election.......
........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.
Complete text: http://www.wsj.com/articles/billion...lion-in-weeks-after-trump-election-1484227167
Don't feel too bad for George, he's still fabulously wealthy and likely will be for the rest of his natural life. It does illustrate, however, that even guys like him sometimes get it wrong in a big way.
Billionaire hedge-fund manager George Soros lost nearly $1 billion as a result of the stock-market rally spurred by Donald Trump’s surprise presidential election.......
........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.
Complete text: http://www.wsj.com/articles/billion...lion-in-weeks-after-trump-election-1484227167
Don't feel too bad for George, he's still fabulously wealthy and likely will be for the rest of his natural life. It does illustrate, however, that even guys like him sometimes get it wrong in a big way.
