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Trump Effect: George Soros Loses $1 Billion Following Trump’s Victory

Thursday, January 12, 2017 14:33
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(Before It's News)

A lot of good things are about to happen once Donald Trump assumes office, but even as President Elect, he and his victory are making the world a better place.

George Soros’s evil empire took a hard blow in the weeks following the presidential election. Not only did the Nazi-collaborator and rabid anti-Israel advocate waste millions of dollars in donations to Hillary Clinton’s super PACs, but he reportedly lost one billion dollars following Trump’s victory.

Unfortunately, Soros still has billions of dollars to continue his globalist quest to fund the leftist mainstream media and Democratic Party, and disrupt the world and destroy national borders through shadow government.

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“Billionaire George Soros Lost Nearly $1 Billion in Weeks After Trump Election”

THE WALL STREET JOURNAL, January 12, 2017

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.

But Stanley Druckenmiller, Mr. Soros’s former deputy who helped Mr. Soros score $1 billion of profits betting against the British pound in 1992, anticipated the market’s recent climb and racked up sizable gains, according to people close to the matter.

The divergent bets of the two traders are a stark reminder of the challenges even acclaimed investors have faced following Mr. Trump’s unexpected victory. Many experts had predicted a tumble for stocks in the wake of the election, but instead the Dow Jones Industrial Average has climbed 9.3%.

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.

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.

The broader portfolio held by Mr. Soros’s firm performed better, posting profits before and after the election from long-held investments in sectors including financials and industrials, according to people familiar with the firm. Those gains helped Soros Fund Management gain about 5% on the year.

Mr. Soros, chairman of the firm, continues to trade a portion of Soros Fund’s cash and his positions often are quite volatile, the people said. The firm is currently interviewing candidates for a vacant chief investment officer position. Some close to the firm say Mr. Soros could play a reduced trading role when someone is hired to fill the role. In recent years, the 86-year-old billionaire has focused on public policy and philanthropy. He was a large contributor to the super PAC backing Democratic presidential nominee Hillary Clinton and has donated to other groups supporting Democrats.



Source: http://pamelageller.com/2017/01/trump-effect-george-soros-loses-1-billion-following-trumps-victory.html/

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