by JOEL B. POLLAK
12 Jan 2017
1,564 comments

The Wall Street Journal reports Thursday that billionaire left-wing financier George Soros lost nearly $1 billion as a result of Donald Trumpís surprise victory in the November 2016 presidential election.

The JournalĎs Gregory Zuckerman and Juliet Chung report:

Billionaire hedge-fund manager George Soros lost nearly $1 billion as a result of the stock-market rally spurred by Donald Trumpís surprise presidential election.

But Stanley Druckenmiller, Mr. Sorosís former deputy who helped Mr. Soros score $1 billion of profits betting against the British pound in 1992, anticipated the marketís 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. Trumpís unexpected victory.

Ö

Mr. Soros was cautious about the market going into November and became more bearish immediately after Mr. Trumpís election, according to people close to the matter. The stance proved a mistakeóthe stock market has rallied on expectations that Mr. Trumpís policies will boost corporate earnings and the overall economy.


Thanks to Sorosís diversified portfolio, his funds still earned 5% on the year. However, Druckenmiller ó who stopped working for Soros in 2000 ó did much better, predicting that a Clinton win would cause the markets to rise and then fall, while a Trump win would do the opposite, the Journal notes.

Druckenmiller, who spent $3.5 million on donations to Republicans ó a small amount compared to Sorosís $20 million in 2016 ó ďscored gains of more than 10% in 2016Ē through his own firm, the Journal reports.

The ďTrump bumpĒ has lifted the Dow Jones Industrial Average over 1,600 points since Trumpís victory on November 8.

http://www.breitbart.com/big-governm...ion-trump-won/