Billionaire investor and philanthropist, George Soros, has resumed trading and is exhibiting bearish market characteristics. This was after a long trading hiatus that saw minimal activity from George Soros. His return to the markets is fueled by potential opportunities for profit amid impending economic troubles.
Soros has been quite vocal about the oncoming economic woes facing the global market. He has been concerned that huge market shifts will occur causing ripples across the economic divide. This outlook has led George Soros to exhibit a series of large and bearish investments. Close confidants of the billionaire said that though he was concerned about the weakening global market, he sees opportunity for profit and has made huge steps towards the same.
Soros has always closely monitored the investments made by his firm, Soros Fund Management. A few years ago, the firm returned all money from outside investors. Today, it only manages his family’s wealth. Since his retirement, he has focused his attention on foreign policy and philanthropy. He has since given billions to various charitable organizations across the world through the Open Society Foundations.
However, at the start of 2016, Soros started spending time at his offices directing sales. He has also maintained constant communication with his executives. His firm manages close to $30 billion on behalf of his Family. This year, the firm bought huge shares in gold miners and gold amid a gloom market view according to Soros.
Soros has always voiced his concern over the weakening Chinese economy and capital flight. He has also been concerned about how the political milieu of the mainland may be a hindrance of lasting reform. In addition to the Chinese economic situation, Soros has also been concerned over a number of challenges facing the European Union namely the migration crisis, Greek’s debt challenges and the United Kingdom’s potential exit from the EU. The last challenge could inevitably lead to the collapse of the European Union.
George Soros is an 85 year old billionaire who holds U.S. and Hungarian dual citizenship. His story is quite inspiring because he survived, as a young Jew, during the Nazi occupation of Hungary and eventually made his way through Europe to London, England, to seek higher education.
Today, he is one of the wealthiest individuals globally and has amassed a huge net worth over the years. He is also very philanthropic having given billions in over three decades to various international charities. His Open Society Foundations is currently ranked as one of the most successful philanthropic organizations in the world. Soros has also authored many books and online articles.
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