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| Photo by Heinrich-Böll-Stiftung. |
Is this a sign of trouble ahead for the banking industry?
By John Vibes
Just over 2 decades ago banker George Soros made his most famous investment by shorting the British pound and pocketing a billion dollars in the process. Since then he has become famous for betting on stock market crashes and in some cases even rigging markets to fail for his own gain.
Just months ago, Soros made headlines by making a billion dollar stock bet against the S&P 500. At the time this was said to be a sign of trouble ahead for the US economy, as Soros has seemed to have had advance knowledge of market crashes in the past. As a result of this reputation, investors have begun to keep a close eye on his holdings.
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