Billionaire investor George Soros has doubled down his bets against equity markets in the United States, according to recent filings quoted by CNBC. He has been losing money so far as the markets thrived during Donald Trump’s presidency.
Read more
Georges Soros, Chairman of Soros Fund Management. © Charles PlatiauSoros’s bad bet against Trump cost his clients $1bn
Soros’ primary plays are against large-caps via the S&P 500 and small-caps via the Russell 2000, which are run through his family’s Soros Fund Management. S&P Global Market Intelligence say the bets have a potential value of $764.3 billion.
After Trump won the US presidential election, Soros started betting against US stocks. While Soros called Trump a "would-be dictator," and predicted uncertainty and sell-off after his win, the markets rallied significantly.
The S&P 500 is up 5.7 percent this year while the Russell 2000 is up 0.3 percent. Companies in the S&P 500 are seeing 16.5 percent earnings growth in the first quarter of the year, the best year-over-year growth in nearly six years, Bloomberg reported on Monday.
A March poll by Investing.com says major banks forecast the S&P 500 to reach 2,425 points by year-end from the current 2,365.
In February, a report by hedge fund investor LCH Investment claimed the Hungarian-born billionaire’s misplaced investments turned into a $1 billion loss for his clients.
Forbes estimates George Soros's net worth at over $25 billion.
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.rt.com/business/388909-soros-bet-us-market/
I'm sure he can afford it.
as i always say "follow the money , its more damning than a blood trail" ever wonder where and why almost daily there is yet another unsubstainated, unprovable , unnamed source story getting plastered all over the news and social media? i would bet money(and have) that some people with a very large wallet are getting chrushed because they bet against trump and now they are going to pump and dump, there is 0 reason behind the valuations in the market today and i think the meteoric rise of cryptocurrency are partially because there are also a lot of people beginning to understand that the "pump " is almost over and the dump is coming, ever read how soros made his millions , he magically shorted a whole bunch of stocks at just the perfect time.Most americans arent smart enought or educated enough on the financial markets to see this coming , and a bunch of other ones know its coming they are just hoping that they got there timing right so they can roll out before it craters, either way there is a yuuuuge correction coming and as long as they can keep tax reform,.repatriation, and trump at bay they are buying time to maximize their profits and crater everyone else.