Some people called George Soros an Enigma. That’s fair. Soros is a bit of a puzzle, and at times, his actions and words are inexplicable. But one thing is certain. The 85-year-0ld Hungarian-born humanitarian is a master investor. Soros has been laying low in the investment market, but he recently got back in the swing of things when he dumped 37 percent of his hedge fund’s stocks and bought gold. Soros is letting the world know that his prediction that a major global recession is going to shake the air out of the stock market and send the developed nations around the world into an economic tailspin that could last for several years is coming true. The move to get back into buying and selling by Soros is a sign that the next best thing to buy is gold, according to an article published by the Wall Street Journal.
The United States economic figures aren’t great, but the GDP output is still in the plus column, but Soros thinks that won’t last long. By the end of 2016, the U.S. could be facing an economic contraction, according to Soros. George Soros has watched gold jump front and center when a recession becomes a reality through the years. Soros bought 19 million shares of gold miner Barrick Gold Corporation in the first quarter of 2016 in order to be part of the next gold jump which is in the works now. George is keeping his winning streak alive by selling stocks that will suffer during a recession and buying gold that will increase in value as the demand increases. The Soros Fund Management hedge fund has more than $30 billion in assets under management, and the addition of gold may increase that number before the end of the year.
In order to understand George Soros, it’s important to know his history. At 14, Soros fled his home in Hungary and moved to England because the Nazi’s overpowered that nation. The Soros family was Jewish, but Soros was one of the fortunate ones to escape thanks to his father’s quick thinking. In 1952, George attended the London School of Economics, and when he graduated with a degree in philosophy, he decided he wanted to move to the United States and get involved in the financial industry. Soros got a job on Wall Street, and it didn’t take him long to learn the tricks of the trade. In 1970, he founded his own hedge fund, and he has made one incredible bet after another during the last 40 years.
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