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Soros Shorts Deutsche Bank

George Soros scaled large billionaire source Bloomberg 42682660
George Soros still has a knack for making a profit.
  • Why it matters

    Why it matters

    European bank share prices have taken a kicking following the Brexit vote, and stock in struggling Deutsche Bank is looking particularly vulnerable.

  • Facts

    Facts

    • Deutsche Bank saw its share price drop from €15.08 on the day of the referendum vote to a low of €12.07 on Monday.
    • Mr. Soros sold 7 million borrowed Deutsche Bank shares; if their price falls, he can buy them back for a profit (short selling).
    • He had a net short position of 0.51 percent of Deutsche Bank’s share capital on Friday.
  • Audio

    Audio

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George Soros became famous because of his speculation against the British pound in the 1990s. Now the legendary investor is back in the game after the Brexit vote.

Although he is not betting against the British pound this time, the 85-year-old hedge-fund manager is a Brexit winner nonetheless, betting on a decline in the price of Deutsche Bank shares following the referendum. He has been successful so far. The bank’s share has lost about 15 percent of its value since Thursday.

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