My, what a coinky dink. Gee Soros must be a financial genius. It's almost like he is psychic or has amazing powers of foresight.

But then again if your about to go down for crimes against humanity, then whats a little insider trading going to hurt.

Billionaire George Soros sells Facebook, Netflix, and Goldman Sachs stock just before they nosedive - saving himself $17.7MILLION in losses

The Soros Fund Management handles the money of George Soros' family

SFM sold substantial shares of Facebook, Netflix, and Goldman Sachs stock

Shares of the three companies have tumbled in recent weeks

SFM has saved $17.7million by unloading shares of the three firms

Billionaire investor George Soros sold shares of Facebook, Netflix, and Goldman Sachs just before those stocks took a nosedive in recent weeks - saving $17.7million.

The Hungarian-born liberal philanthropist, who is also the founder and chairman of Soros Fund Management, sold all of his shares in Facebook in the third quarter.

He also unloaded a number of shares in Netflix as well as Goldman Sachs Group, according to Barron’s.

Both Facebook and Goldman have hit new lows so far this fourth quarter.

The social network is down almost 20 per cent while Goldman, the investment banking giant, has lost nearly 15 per cent of its share price this quarter.

At the close of trading on Wall Street on Wednesday, Facebook was selling at $134.82, a 1.8 per cent improvement from the day before.

On July 25, Facebook was selling at $217.50 a share.

The next day, it fell 19 per cent, erasing $120billion worth of shareholder wealth. The stock has continued to fall ever since.

Soros Fund Management, which handles the Soros family’s money, owned 159,200 shares of Facebook at the end of the second quarter.

By the time the third quarter ended on October 1, SFM sold all of its shares in Facebook.

It is ironic that Soros managed to sell Facebook shares before they nosedived.

Last week, The New York Times reported that the company tried to deflect blame over a massive user data breach by hiring a Republican opposition research firm.

The firm then tried to tie Facebook critics to Soros, who has been a target among conservatives.

In taking an aggressive stance, Facebook also tried to paint critics of the company as anti-Semitic.

The head of the Open Society Foundations, a nonprofit group founded by Soros, blasted Facebook for promoting ‘distortions’ about Soros.

Now there is even a bigger public relations backlash against Facebook, whose top executives - CEO Mark Zuckerberg and COO Sheryl Sandberg - had long insisted that the company was apologetic and eager to take responsibility for its mistakes.

SFM may have sold its shares of Facebook, but it is possible that Soros himself has a personal stake in the company.

https://www.dailymail.co.uk/news/article-6415937/George-Soros-sells-Facebook-Netflix-Goldman-Sachs-stock-just-nosedive.html