Soros increases losing bet on falling US stock markets
Soros’ primary plays are against large-caps via the S&P 500 and small-caps via the Russell 2000, which are run through his family’s Soros Fund Management. S&P Global Market Intelligence say the bets have a potential value of $764.3 billion.
After Trump won the US presidential election, Soros started betting against US stocks. While Soros called Trump a "would-be dictator," and predicted uncertainty and sell-off after his win, the markets rallied significantly.
The S&P 500 is up 5.7 percent this year while the Russell 2000 is up 0.3 percent. Companies in the S&P 500 are seeing 16.5 percent earnings growth in the first quarter of the year, the best year-over-year growth in nearly six years, Bloomberg reported on Monday.
A March poll by Investing.com says major banks forecast the S&P 500 to reach 2,425 points by year-end from the current 2,365.
In February, a report by hedge fund investor LCH Investment claimed the Hungarian-born billionaire’s misplaced investments turned into a $1 billion loss for his clients.
Forbes estimates George Soros's net worth at over $25 billion.