Trump Rally “Burns” George Soros for at Leaset $1-B
George Soros lost nearly $1-B, as a result of the stock-market rally spurred by Donald Trump’s Presidential election victory.
Mr. Soros became more Bearish immediately after Donald Trump’s election. But the stock market rallied on expectations that President Elect Trump’s policies will boost corporate earnings and the overall economy.
The S&P 500 Index has risen 5.3% since Donald Trump’s election through the close Thursday.
Some of Soros’s trading positions incurred losses approaching $1-B, the the WS-J said. Mr. Soros exited many of his Bear bets late last year, avoiding further losses.
A former associate of Mr. Soros expressed a Bullish position on the American economy following the election. Saying then that the EUR could weaken to 82c Vs USD. He also said yields on the US 10-year Treasury should rise over the next year or 2 from their then current level as long as the incoming administration sticks with plans, such as tax reform, designed to boost growth. He was also short the JPY and global bonds.
A representative for Mr. Soros was not available to comment.
|HeffX-LTN Analysis for SPY:||Overall||Short||Intermediate||Long|
|Bullish (0.30)||Neutral (0.21)||Bullish (0.25)||Bullish (0.43)|