George Soros has lost nearly $ 1 billion due to strong growth of capital markets after the surprising victory of Donald Trump in the US presidential election in November, according to Bloomberg, which cites "The Wall Street Journal".
Instead, Stanley Druckenmiller, the former aide to Soros, whom he helped to obtain profit of $ 1 billion betting against the pound in 1992, anticipated growth scholarships and has recorded significant gains, according to sources quoted Thursday by the American publication.
Soros has become more cautious immediately after the election of Trump. But the stock market has risen sharply, investors anticipating that Trump's policies will support economic growth and corporate profits in general.
The S & P 500 rose 5.6% from November 8. Consequently, certain positions taken by Soros transactions generated losses of nearly $ 1 billion, according to WSJ. Soros has liquidated some positions late last year, thus limiting losses.
Expanded portfolio of Soros obtained better performance, however, and the company recorded an increase of about 5% for the whole of 2016.
Druckenmiller adopted a different tactic. At an investor conference on 29 November, Druckenmiller expressed an optimistic position on the American economy after the election, saying the euro could weaken to 82 cents against the dollar. He also said that the yield on Treasury securities within 10 years could rise in the next 1-2 years, if the next administration will maintain its plans, such as tax reform designed to stimulate growth. Druckenmiller also reduced its investments in yen and global bonds, according to people present at the meeting.
No representative of Soros was not available for comment, the release said.
