George Soros, one of the greatest investors of all time, has recently come back into trading on the stock market. Whenever he lays down his hand on the stock market, everyone listens, so this news has woken people upon the state of the economy. At one point George Soros bet against the housing market, which ended up netting him one billion dollars in profit. Now, his move was to buy gold and shares in gold miners, and this means that he doesn’t believe in the current economy and rather put his money into gold which will keep its value.
That move doesn’t say anything good about the future of the economy, as George Soros is usually right where he puts his money. George Soros previously stated that he felt the current financial market situation reminds him of 2008. That statement is something that puts everyone in a state of alert. He sees the problems coming from overseas this time, though. He has said to the Wall Street Journal “China continues to suffer from capital flight and has been depleting its foreign currency reserves while other Asian countries have been accumulating foreign currency. … China is facing internal conflict within its political leadership, and over the coming year, this will complicate its ability to deal with financial issues.”
With so much trust in his movement, he is a leader regarding where to put your money in this economy. Only time will tell if Soros is right this time, but in his previous venture, he has proven himself a rather trustworthy person to follow, a real leader of the stock market.
Learn more about George Soros: