George Soros Lost $1 Billion Betting Trump Would Cause Stocks to Crash.
Billionaire hedge fund manager George Soros lost close to $1 billion in trades by betting stocks would collapse after Donald Trump’s stunning victory in November.
Instead, the Dow Jones Industrial Average has soared 9.3 percent.
The lefty hedge fund manager – who donated millions to Clinton and returned to last year to managing his $30 million Soros Fund Management LLC — placed bearish bets because he thought the economy was headed south after Trump’s election, according to the Wall Street Journal.
Soros’ fund still managed to gain 5 percent on the year – but that was half the 10 percent gain registered in a fund run by his former deputy Stanley Druckenmiller, who correctly predicted that stocks would first tumble then spike.