Billionaire globalist George Soros may be edging near bankruptcy after the hedge fund elitist lost “significant amounts of money” following Trump’s election victory. According to a new report from The Wall Street Journal, close associates of Soros such as Gregory Zuckerman and Julet Chung have expressed fear that the legendary billionaire may be “on his way out”.
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.
Risk assets declined across the globe, with European, Asian shares and S&P 500 futures all falling, while the dollar slumped against most currencies after a news conference by President-elect Donald Trump disappointed investors with limited details of his economic-stimulus plans, and the Trumpflation/reflation trade was said to be unwinding.
As Vicent Cignarella, FX strategist who writes for Bloomberg, writes overnight, the "Dollar Rally May End If Dow Fails to Pass 20,000" and the one variable that might determine if it does, is Donald Trump. Here's why:
Following this morning's manic euphoria in small businesses and ahead of tonight's delusion by Obama, given the market's performance, this seemed appropriate...