- Reuters/Jorge Silva
Legendary investor George Soros is back to making big bets.
Soros has returned to trading after a long hiatus, according to Gregory Zuckerman at The Wall Street Journal.
He has recently directed a series of large bearish bets, selling stocks and betting on gold, the report said.
Soros, who ranks second on the list of the most successful hedge fund managers of all time, has spoken publicly about his concerns for the global economy.
He recently said that China’s financial system right now “eerily resembles what happened during the financial crisis in the US in 2007-08.”
And in Davos earlier in the year, he said that the world is running into something it doesn’t know how to handle, and that he was betting against Asian currencies and commodity-linked economies.
China later warned Soros against going to “war” on its currency.
Soros stepped back from day-to-day trading some time ago, and his return to investing marks a turnaround.
Scott Bessent had been the top investor at Soros Fund Management, but he left last year to launch his own fund, Key Square Group. In January, Soros Fund Management named Ted Burdick as its news chief investment officer.