Billionaire hedge fund manager, George Soros best known for breaking the Bank of England in 1992, was unable to repeat that feat with his bets following the election of Donald Trump. Rather he lost $1 billion dollars.
Soros who returned trading in 2016 for his family firm Soros Management LLC took a bearish position in November 2016 during the US presidential elections. He then increased his bets after Trump won the election. The Dow Jones Industrial Average (DJIA) instead rallied 9.3%. Mr Soros, exited many of his bets to avoid further losses.Long term investments held by his firm enabled it to end last year up 5%.
Soros made a profit of around 1 billion pounds after short selling the pound in 1992, on the premise that the British Government would devalue the pound and then exit the Exchange Rate Mechanism (ERT). A system whereby countries in the European Union (EU) fixed their exchange rates. Britain fixed their exchange rate. His bet was estimated to be about 10 billion pounds. Which he then converted into Italian lira and Deutsche Marks
(Culled from zerohedge.com)