George Soros, the billionaire hedge-fund manager and liberal financier, lost nearly $1 billion after becoming bearish after Donald Trump’s election victory, The Wall Street Journal reported.

The 86-year-old was cautious about the market prior to November’s election became more bearish after Trump’s win. So far, the bet was a mistake, and the stock market has risen about 9 percent over the past two months, the report said. Fox News