Report: George Soros Lost Nearly a Billion Dollars in the Market After Trump Win
Betting against Donald Trump cost George Soros big time.
The Wall Street Journal reports that the hedge-fund manager and liberal financier lost nearly $1 billion after President-elect Donald Trump's unexpected victory.
Soros was reportedly making big investments that were tied to his anticipation of a bearish stock market due to Trump's win.
But the opposite has occurred, with the U.S. market rising about nine percent in the following months.
Fox Business Network's Maria Bartiromo said this morning she sees this as a case of Soros' liberal political views getting in the way of his investing strategy.
"Had George Soros actually studied the economic plan that Donald Trump was talking about - rolling back regulations and cutting taxes - that would have been obvious that [the plan] was gonna move earnings. What moves the stock market? Earnings!" she explained.
Bartiromo noted that many others, including Mark Cuban, made doomsday predictions about what would happen to the market if Trump won.
Watch the analysis above.