George Soros is back after a long break. The billionaire investor makes his comeback stage with big and bearish investments amid global economic and political uncertainty, sending the financial crowd abuzz in discussions around his latest moves.
George Soros sees opportunities lying in the coming economic troubles, selling stocks and starting buying gold and gold-miner shares. The VanEck Vectors Gold Miners ETF traded higher on Thursday after his announcements. The financial crowd has also been in heavy discussions about his strategy yet Jim Cramer warns traders and investors that they “shouldn’t be blinded by the billionaire limelight.”
According to the WSJ report, Soros expressed his concerns over China economic and political situation, saying the political milieu might affect the lasting reform. However, China did not seem happy about the guru’s comments on its currency which can create a bad influence on the confidence of its citizens in yuan.
On the current hottest political event EU referendum, George Soros believes that a Brexit is not likely to happen based on the strength of the pound. “I’m confident that as we get closer to the Brexit vote, the ‘remain’ camp is getting stronger,” said the billionaire and philanthropist. Yet he also warns that if the U.K. votes to leave, it will lead to the collapse of the E.U.
It’s only two weeks away from the EU referendum and its heat is felt across the globe. We have created a Brexit Brief widget with wisdom from the financial to hourly monitor the impact of Brexit on stocks, currencies, economics and central banks.
Sentifi – Brexit Widget
This is also a widget which can be embedded on any webpage, FREE of charge. Follow the instructions here and let us know your feedback.
If you want to harness the wisdom and insights from the crowd to monitor your portfolio free of charge, please sign up for myMarkets.