George Soros, even at age 85, is a man who like to take risks and likes to stay on the edge. Lately Soros has taken on a change in his investment strategy, and has begun trading again. In recent times this multi-billionaire hedge fund owner, philanthropist, investment guru and political activist had taken a more cautious approach to the market. Just this year he divested himself from some investments and started putting money in gold, as a safe haven against the market volatility brought on by the difficulties in China’s economy.
Visit Project Syndicate to learn more about George.
Now George Soros is back in the market and making trades. Why? The speculation is that Soros is pessimistic about where things are headed in the global economy right now, and he’s gearing his strategy towards that. Soros made a similar move back in 2007, when he foresaw the looming economic meltdown that would follow the bursting of the US real estate bubble. His strategic trades from that time netted his company $1 billion over the next two years.
Shakiness in The Global Situation
Soros has spoken out frequently in recent days about the many challenges facing the European Union, which include the recent ‘Brexit’ vote, the ongoing migration crisis, the fate of the euro and the looming debt crises facing several EU members. Soros has also made note of the market volatility this year that’s come from the instability in China, as that country attempts to switch from a manufacturing based economy into one that is more service and consumer oriented. All of these factors have lead to George Soros’ pessimism about the market’s near future.
Will history repeat itself for Soros, as he takes a gamble on trading against the market? Only time will tell, but given Soros amazing success rate, the guess is that he’ll come out of the game looking very good.
Learn more George Soros: