Brexit Proves (Yet Again) That George Soros Is a Brilliant Investor

Billionaire investor George Soros’ most famous trade involved betting against the U.K.’s pound sterling in 1992. Shorting Britain’s currency netted Soros a billion dollars in profit and cemented him atop the investing elite. Now it appears the iconic hedge fund manager has done it again.

Earlier this month, Soros revealed he’s betting heavily against markets because of rising economic uncertainty, and earlier this week, he went on record against the U.K. leaving the European Union because of the potential financial fallout. Now that Britons have officially voted for an exit from the EU, or “Brexit,” Soros’ bearish bets appear to be incredibly savvy once again.

This time around, Soros hasn’t said if he’s bet against sterling, but he has indicated he’s confident markets will drop. Specifically, a June 9 Wall Street Journal article said Soros directed a “series of big, bearish investments.”

Soros’ pessimism stems in large part from concerns that China will fail to jump-start its economy — an opinion widely shared by another iconic investor, Jim Rogers, who was once Soros’ partner. Soros has also said that an exit by Britain from the EU could prompt “a general exodus, and the disintegration of the European Union will become practically unavoidable.”

Given Soros’ fears of an EU unraveling, and the fact that Europe is the world’s biggest economy, it stands to reason that at least some of Soros’ “big, bearish investments” target the region.

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