George Soros Has 1 Billion More Reasons to Hate Donald Trump

Luckily Soros exited many of his bearish bets late last year avoiding further losses

Soros won a place in finance history by heavily betting sterling would fall and was dubbed the man who "broke" the Bank of England in 1992, when he bet against the pound and made a reported $1 billion.

While Carl Icahn infamously made a killing following the "surprise" Trump election, another prominent hedge fund manager was not almost as lucky.

As a result, some of Mr. Soros's trading positions incurred losses approaching $1-billion, the Journal said.

But despite the loss, Soros Fund Management gained 5% for the year.

He was reportedly cautious about the market before the election, and then grew increasingly bearish after Trump's win due to the President-elect's statements concerning a possible raise in tariffs on Chinese imports, a move many investors saw as potentially upending global trade. Mr. Soros exited many of his bearish bets late a year ago, avoiding further losses. To be sure, Soros wasn't alone as many other experts had predicted a tumble for stocks in the wake of the election, but instead the Dow Jones Industrial Average has climbed 9.3%.

Druckenmiller, who spent $3.5 million on donations to Republicans - a small amount compared to Soros's $20 million in 2016 - "scored gains of more than 10% in 2016" through his own firm, the Journal reports.

Mr. Druckenmiller took a different tack.

The Journal also noted that Soros' former deputy, Stanley Druckenmiller did much better following the election. More specifically, the bearish moves in stocks, USA dollar and commodities in response to FBI's letters to Congress on Clinton's email probe suggested that markets were likely to react negatively to a Trump electoral victory. But, with the markets as seemingly unstable as they were in the run-up to the election, he couldn't resist.

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