George Soros is the kind of investor that other investors watch. A tip from Soros could be worth millions. Soros has made people rich by following his advice. He’s been giving investment advice for more than 50 years, and he has accumulated more than $24 billion in personal wealth during those years. The Soros Management Fund is a $39 billion hedge fund that used to be open for other investors but now the Soros Fund investors are family members. George wasn’t active in that fund for a while. He left the investing to other members of the fund, but that changed recently. George stepped back into the trading game, and he did it with precision. Read more at The New York Times about George.
George Soros gives frequent interviews and during those interviews, he hasn’t been shy when it comes to talking about the global economy or the condition of the European Union. He also had a lot to say about the Chinese economic debacle and how it could impact the economies of other countries. Brazil and South Africa have already felt the fierce backlash from China’s reduced need for imports, and Europe has been impacted as well. Soros warned that a United Kingdom break from the EU could be devastating to the UK, and he strongly urged the citizens of the UK to vote to stay. But that didn’t happen.
Soros must have had a strong feeling about the vote because he decided to sell 35 percent of the stocks in his Soros Management Funds portfolio and buy more than 19 million shares of Barrack Gold. Barrick Gold is one of the largest miners of precious metals in the world. George Soros also took a short position which amounted to 0.51% of Deutsche Bank’s outstanding shares. That was roughly 7 million shares as of the end of June. The Soros short bet was revealed the day that the shares in Deutsche Bank took a beating. That was the day the UK decided to leave the European Union. The Soros decision to short shares in the German bank was brilliant, and a move several of the top hedge fund managers made around the same time, according to an article published by Forbes.com.
The Wall Street Journal published an article about Soros Management Fund’s activity, and it’s safe to say that the fund has already made millions because Soros knew there was better than even chance that the UK was going to vote to leave the EU. But that’s not the only reason Soros is putting money into the gold market. He still believes the U.S. stock market and other stock markets around the world are going to feel the impact of China’s bad debt situation. No one is sure when stocks will begin to fall, but based on Soros’ recent investment moves it will be sooner than later.
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