News has come out courtesy of the Wall Street Journal that billionaire and Hillary Clinton benefactor George Soros lost almost $1 billion the weeks following Donald Trump’s victory in the 2016 U.S. Presidential elections.
It’s no secret that Soros’ NGOs and clandestine groups supported Hillary Clinton while trying to smear Donald Trump the entire time. Trump has also been no friend of the billionaire madman, accusing Soros of being part of “a global power structure that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth and put that money into the pockets of a handful of large corporations and political entities.”
It’s clear Soros had a lot riding on the election and on Hillary Clinton. The Duran’s Alex Christoforou reported back in October of Soros’ connection to voting machines in 16 U.S. states.
The Wall Street Journal reported today:
“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.
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.”
The Journal also noted Druckenmiller, who stopped working for Soros back in 2000, hedged his bets better – predicting that a Hillary win would cause the markets to rise and then fall, while a Trump win would do just the opposite.
The “Trump bump” – as experts have called it – has lifted the Dow Jones Industrial Average over 1,600 points since Trump’s victory on November 8.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.