Investors have been calling it the “Trump Bump.” To liberal billionaire George Soros, it’s been more of a surprise smackdown. For the rest of the world, it’s just good old schadenfreude — that upside-down pleasure we get at the misfortune of someone who really deserves it.
In the aftermath of President-elect Donald Trump’s election, Soros has lost nearly $1 billion in the American stock market, according to an article from The Wall Street Journal (behind a paywall) cited by Breitbart.
It was a lovely turnabout to Soros’ infamous 1992 “Black Wednesday” billion-dollar profit, when he infamously “broke the Bank of England” by betting against the pound.
Soros turned bearish in response to Trump’s election victory in November, underestimating the positive investor response that followed. Stock markets went on a tear, with The Dow Jones Industrial Average, the Standard and Poor’s 500 and Nasdaq all rising 4 percent to 5 percent in a month, according to Forbes.
As of yesterday, the “Trump bump” has lifted the Dow Jones Industrial Average over 1,600 points since Trump’s election. American companies were already feeling the optimism: Delta Airlines CEO Edward H. Bastian told CNBC that Delta was already seeing a bump in earnings due to post-election consumer confidence.
Even sweeter was that Soros poured a reported $9 million into former Secretary of State Hillary Clinton’s failed campaign, according to Fox News.
His radical policies were also taking a hit elsewhere. Hungarian Prime Minister Viktor Orban, inspired by Trump, has vowed to get Soros’ influence out of his country. Over 60 Soros organizations operate in Hungary and have often been considered a front for Soros’ left-wing policies.
The liberal financier did everything possible to control American politics and policies and to defeat Donald Trump and the mandate of the American people. His arrogance clouded his famously sharp judgment — and now he is paying the price.
We can only hope that Soros’ interests continue to suffer as a result of betting against America.
As a fellow billionaire, Trump may be feeling a little schadenfreude himself. He won the hearts of the American voters by bringing a message of strength and leadership. Soros tried to buy his way in and failed.
The only sad thing about this story is that the hit wasn’t much, much harder.
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