George Soros lost almost $1 billion in weeks after Trump win

Josh Kim
January 14, 2017

But there's one thing he didn't see coming: that the American people would elect an impetuous poster child for bad toupees to be their next president, and that the markets would like it.

George Soros, a hedge-fund manager and billionaire, is far from the feeling of happiness after the Republican's victory-in weeks, Mr Soros lost almost $1 billion.

The sources told the Journal Soros was cautious about the market going into the election and became bearish after Trump won.

The stock market instead rallied on expectations that Trump's policies will boost both corporate earnings and the overall economy.

Soros avoided further losses by adjusting his positions late in 2016, the report added. George Soros, the USA billionaire, is one of the most influential figures on the American Left.

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"The broader portfolio held by Mr". "Those gains helped Soros Fund Management gain about 5 percent on the year". He also felt that if Trump were to win the election, stocks would initially tumble and then erase its losses and move higher.

Stanley Druckenmiller, a Soros protégé who worked at his firm until 2000, was much more prescient. He felt that if Clinton were to emerge victorious in the election, then the stock market would initially rally but then reverse course and drop. These trades have paid off as Mr. Druckenmillers firm, Duquesne Family Office LLC, scored gains of more than 10% in 2016.

WSJ noted that Druckenmiller profited from the US election.

Soros expected the market to drop sharply after Election Day, the report said. They hadnt supported Trump.

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