Big, bearish investments. That is what traders were calling George Soros’ transactions in gold and other “bear” investment interests, according to the Wall Street Journal (WSJ). They reported that he had not been an active trader in recent years, at least not to this level. Soros sold off a lot of stocks through his stock management company: Soros Fund Management. He has a portfolio reportedly worth about $30 billion.
Then George Soros showed his bear mood, and only spent large sums in gold and gold miners. According to the WSJ, this reveals how gloomy his outlook is for the future of equities trading, not just in the West, but across the world. Soros has repeatedly lamented the financial situation in China, claiming their market will fall and take down everyone else with them. He believes their form, or more importantly – the implementation of government is too corrupt to allow for any good self-regulation or other changes that would avert the stock markets’ meltdowns. Soros is worried that the same type of failure that happened with Greece and the EU will befall the all-too-rapid growth that China has not be able to sustain.
Billionaire Investor George Soros Sees Economic Trouble Ahead
George Soros | Open Society Foundations (OSF)
George Soros began life in 1930, in the Eastern European Bloc nation of Hungary. After surviving the Nazi occupation of German forces in the 1940s, he eventually escaped to England. There he graduated from the London School of Economics before finally immigrating to to United States. He is an outspoken multi-billionaire philanthropist who has often been especially critical of U.S. foreign policy in Europe.
George Soros is also the person who founded The Open Society Foundations (OSF). The OSF works to raise awareness and provoke thought on issues that affect everyday people, such as health care, education about sociopolitical systems, improve economic conditions, and the basic freedoms of democracy for all people, everywhere in the world. They also work to gain more freedoms in those countries that actively oppress their citizenry.
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