This Billionaire Is Trading Again For A Very Important Reason

Our economy may soon be in trouble. After a long hiatus, Hungarian-American business magnate George Soros is back to trading, and he’s betting against the economy.

The Wall Street Journal has reported that the billionaire has been making bets to profit from economic troubles that he sees coming.

According to the report, Soros recently directed a series of large bearish bets, selling stocks and betting on gold. He has increased investments in defensives like Silver Wheaton, Barrick Gold, and the SPDR Gold Trust.

He has spoken publicly about his concerns for the global economy and recently said that China’s financial system right now “eerily resembles what happened during the financial crisis in the US in 2007-08.”

“China is facing internal conflict within its political leadership, and over the coming year this will complicate its ability to deal with financial issues,” he added.

Soros has dedicated most of his time to philanthropic efforts such as the Open Society Foundation.

The last time Soros was actively trading was nearly a decade ago, when he made a reported $1 billion betting against the overvalued market in 2007.

Considering that Soros is second on the list of the most successful hedge fund managers of all time, maybe we should be paying close attention. Historically investors have kept a close eye on Soros’ moves. It was after all Soros’ Quantum Fund that made an estimated $1.5 billion in the early 1990s when they betted that the breakdown of a predecessor currency to Euro would force the Bank of England to devalue the British Pound.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

sophia-villa has 1911 posts and counting.See all posts by sophia-villa