After a two year hiatus, George Soros is back on the investing track. He is focusing on initiating large, bearish investments for areas he feels are more needed due to the upcoming economic turmoil he foresees. Soros Fund Management bought shares and gold in gold miners. They also sold stocks amid a very terrible view concerning the global economic outlook and the possible large market moves. With that in mind, Soros stated his particular concerns over the potential, lasting impact of reform due to mainland’s political milieu, and due to his concerns over the capital flight from China. Soros also stated other concerns that include the potential of the European Union’s collapse that can derive from the U.K’s potential exit.
These new moves are significantly different than in the past. His focus was more on philanthropy and public policy in previous times. However, now that he foresees economic gloom, his priorities are elsewhere. And due to the upcoming Presidential election, he is a huge contributor for the super PAC backing of Hillary Clinton who is the presumptive Democratic nominee. He has also donated to several groups that support Democrats.
George Soros is a shrewd businessman, and he is always closely monitoring his organization’s investments. In pastime, some of his senior executives stated how devoted he was with the operations of the organization especially after some losses occurred. However, he hasn’t lately been doing much investing on his own. This change started earlier in the year when Soros began spending more time directing trades in his office. Additionally, he has been contacting the executives more frequently according to different sources.
Soros & His Foundations
In 1979, George Soros established Open Society Foundations when he decided he had sufficient funds. He was able to pursue his ambition to establish such operations due to his great success as a hedge fund manager. His ambitious pursuit has been to establish open societies that are in the vicinity of authoritarian government forms. Soros stated that open society recognizes that our understanding of the world is imperfect, but he also recognizes that improvements can be made from imperfections. He additionally stated that his success within the financial markets gave him a better opportunity than most people, so he can take a stand/obliges him to take a stand concerning controversial issues because others can’t.
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