Zero Hedge
While Carl Icahn infamously made a killing following the "surprise" Trump election, another prominent hedge fund manager was not nearly as lucky. According to the WSJ, "George Soros lost nearly $1 billion as a result of the stock-market rally spurred by Donald Trump’s surprise presidential election."
Which, of course means, he only has $29 or so billion left.
As discussed in 2016, Soros returned to trading at Soros Fund Management LLC, which manages $30 billion for the Soros and his family. At the time, "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." In retrospect, that clearly proved a mistake as the market rallied on expectations that Trump’s policies will boost corporate earnings and the overall economy, even if such expectations may end up being premature. To be sure, Soros wasn't alone as many other experts had predicted a tumble for stocks in the wake of the election, but instead the Dow Jones Industrial Average has climbed 9.3%.
While Carl Icahn infamously made a killing following the "surprise" Trump election, another prominent hedge fund manager was not nearly as lucky. According to the WSJ, "George Soros lost nearly $1 billion as a result of the stock-market rally spurred by Donald Trump’s surprise presidential election."
Which, of course means, he only has $29 or so billion left.
As discussed in 2016, Soros returned to trading at Soros Fund Management LLC, which manages $30 billion for the Soros and his family. At the time, "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." In retrospect, that clearly proved a mistake as the market rallied on expectations that Trump’s policies will boost corporate earnings and the overall economy, even if such expectations may end up being premature. To be sure, Soros wasn't alone as many other experts had predicted a tumble for stocks in the wake of the election, but instead the Dow Jones Industrial Average has climbed 9.3%.
As a result, the WSJ reports that
Soros incurred losses approaching $1 billion. Mr. Soros adjusted his
positions and exited many of his bearish bets late last year, avoiding
further losses, the people added.
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