Since Donald Trump won the election. Good day all. In the “Aww, isn’t that just a darn shame” category, billionaire progressive elitist totalitarian dirtbag, George Soros lost a cool billion dollars since his personal choice for President went down to crushing defeat.
This is on top of however much Soros blew funding all the anti-Trump groups out there. Here are a few details from Fox Business:
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.
It looks like Soros misread the tea leaves, as it were, and shorted the market. Others looked at what was going on, and what Trump plans on doing and went long.
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.
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. As a result, some of Mr. Soros’s trading positions incurred losses approaching $1 billion, the people say.
[youtuber youtube=’http://www.youtube.com/watch?v=Gbp_JQ7RxqM’]
Mr. Soros adjusted his positions and exited many of his bearish bets late last year, avoiding further losses, the people added.
It’s fairly obvious that Soros was betting on Felonia von Pantsuit to win the election, and that she would, for a fee, push policies that would benefit George Soros. Obviously, he was very disappointed that Felonia was defeated by all those worthless peons in Flyover Country. Instead of just pulling out and seeing what was going to happen with the markets, Soros doubled down on stupid and bet against President Trump.
The markets, briefly on Election Night, did collapse when it became clear that Felonia was on her way to obscurity, but the smart people, after readjusting their portfolios, took a good look at what Trump is planning and quickly understood that, while the Crony Capitalism of the Obama and Bush years was over, Trump’s policies would actually be a lot more profitable in the long run. Soros put politics over good sense and it cost him. It couldn’t happen to a nicer guy.
Thatisall
~The Angry Webmaster~
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