George Soros is a famous billionaire investor, valued at $23 billion dollars. His investment firm, Soros Fund Management, is known for its successful bets, and Soros himself is well known for shorting the pound in 1992 and making a $1 billion dollar profit.
The 85-year-old has largely taken a backseat in the past decade, and hasn’t been the one placing investments, until now.
Soros has again become closely involved in his firm’s trading, something that hasn’t happened since he stepped in right before the recession crisis of 2008. Then, he became worried about the housing market, placing bearish bets, and making more than $1 billion in gains.
Soros is turning bearish in his investments again, a warning sign of an economic downturn headed our way, he’s personally directed large bets on the short side, hoping to profit from the economic trouble.
He believes that China’s debt crisis will end badly, and with the European Union dealing with the refugee crisis, along with the possibility of the United Kingdom leaving (they’re having a referendum in June) the EU could very possibly break apart.
Soros is buying gold for the first time in three years. He recently bought over a million shares in SPDR Gold Trust, and heavily invested in Barrick Gold Corp., the biggest producer of gold in the world.
He’s not the only billionaire investor getting preaching doom either. Both Carl Icahn and Stanley Druckenmiller, billionaire hedge fund managers, have put out investment advice about a pending crisis and started to buy gold.
We can see a pattern here: Soros only gets involved in placing direct investment when a bad economic downturn is apparent. He did it ten years ago right before the great recession, and he’s doing it again.
Make sure you have something of value when the economic crisis hits.
Now’s the time to buy gold.
To continue reading about Soros’ bearish investments, click here.