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. …
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.
On top of the $1 billion he lost by misplaying the market, he threw $20 million at Democrat candidates during the 2016 election cycle. It is doubtful that he will see much return on that investment.
On tips from Dragon’s Lair and J.