Soros back to the room concerned markets with China – Magazine Saturday

Soros back to the concerned markets room with China

It is one of the investors more known in the world and is back to assets, although it has never been renovated. Given the more pessimistic outlook for the economy, George Soros decided to return to the trading room.

June 9, 2016 • Business

By Patricia Abreu – Business Journal

George Soros returned to take control of the investment of his fortune . Concerned about the climate of instability in the markets due to more cautious outlook for the economy, the billionaire investor, 85, decided to return to the markets room to take the negotiations and closely follow the direction of the markets.
Yet who has never failed to guide their investments, George Soros decided to return to the office to conduct the close transactions. Concerned about the global economy and, in particular, the situation in China, the octogenarian is selling shares and buying gold to protect themselves from instability.
Owner of a fortune estimated at 24 billion dollars, Soros has I have been recommending a more conservative strategy in the face of market turmoil and the crisis in China. April compared the current situation of the world’s second largest economy with the state of the US economy before the Great Recession of 2007-2008.
What is happening in China “is reminiscent of the financial crisis in the United States 2007-2008, which was also fueled by credit growth, “Soros said, adding that” much of the money that banks are lending serve to keep bad debt and loss-making enterprises in operation. “
at the beginning of year when new interventions by Chinese regulators in equity markets and foreign exchange of the country determined one of the worst starts of year ever in world stock markets, the investor had argued that a sudden stop in the Chinese economy was “almost inevitable”.
Face these pessimistic outlook for the economy, Soros is betting on the fall of shares and anticipate gains in gold and shares of mining companies, which failed to recover the precious metal in recent years.

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