Recently, the retired trader and entrepreneur George Soros has come out of said retirement and made some very bold moves right out of the gate. According to an interview with CNBC Soros has a rather gloomy outlook on the economy for the future. His company, which manages over 30 billion dollars for Soros and his family sold stocks and instead invested in gold and gold miners. His claim for doing this was that the unrest in Europe and our relations with China could have negative impacts on the global economy in a few years.
This could be startling news to investment companies since Soros has been in the game for years. According to his own website, George Soros had already made millions early in life with international investments and writing books and essays on the subjects ranging from the European Union to politics and economics, its safe to say he knows what he is talking about.
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Aside from coming out of retirement in the investment world, Soros has also re-entered the political game as well. According to an article by Politico, Soros went into retirement after dumping massive amounts of money in an effort to stop Bush’s second term. If you’re caught up on recent history, you may recall that Soros’s efforts were not enough and that Bush went on to serve his full two terms. Now, after ignoring the political game for the last two elections, Soros has donated heavily to Hilary’s campaign funds along with several other democratic ventures. Having planned to attend his first Democratic National Convention this year, Soros had to cancel due to the demands of his European trades.
So why did Soros get back into the political game and poor money into the democratic party? Well according to Politico, he has great faith in Hilary Clinton, but his main focus is to simply stop the Republican Nominee Donald Trump. Soros believes that Trump’s fear mongering and racism are only fanning the flames of the issues tearing apart the world right now and that he can not be allowed to win this election.
After years of retirement George Soros has come back, both in the trading and political game, in what seems to be an effort to help the world. Being a philanthropist at heart and, according to his website, having survived the holocaust, it is no wonder that the current events rocking the world would be enough to bring him out of retirement.
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