When George Soros wakes up every morning, he is a little richer. In fact, Soros gets richer by the minute thanks to his shrewd investments over the last 40 years. Soros is in the Investors Hall of Fame. He’s worth more than $24 billion, and that’s just his personal money. His Soros family hedge fund has another $30 billion in assets. Granted, not all that money belongs to George, but he has been the catalyst that has produced all that money. George Soros, the Hungarian refugee, and graduate from the London School of Economics with a degree in philosophy is an investing enigma. He goes where others refuse to go in the investment world, and it has paid off. In 1992, Soros bet against the Bank of England, and he made more than a billion dollars in commissions. His hedge fund made more than $7 billion on that bet. Year after year, Soros has challenged the status quo, and he carved a new path in the investment world. He’s carving another road now.
The Greatest Investors: George Soros
Soros isn’t the only hedge fund manager that is selling stocks and investing in the gold market. But he is the only investor that is telling the world why he is making that move. George Soros bought more than a $400 million stake in Barrick Gold at the beginning of 2016 through his family hedge fund, the Soros Management Fund. Barrick Gold is one of the largest precious metal miners on the planet. Soros also bought a $125 million stake in the SPDR Gold Trust, according to an article published by Forbes.com. At the same time, the Soros hedge fund dumped some favorite U.S. stocks because Soros felt those companies would not do well when the recession hits the United States. George Soros has been talking about a global recession since 2012, and it looks like the world is on the verge of making that a reality.
The issues that are changing George’s investment strategy are obvious. The China economic situation, the European Union’s possible collapse, the United Kingdom’s choice to leave the EU, and the escalating fear that the world is heading toward a new kind of war are the main reasons Soros is changing his investment choices. All of those issues combined are changing the way the world looks at economic growth. The global economy has been good for some countries and not so good for others, according to Soros. There is a strong sense of nationalism and isolationism developing around the world, and that is not going to be good for business. Soros believes those issues will be resolved at some point. But he is not predicting when they will be resolved.
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