From Gateway:
Far Left billionaire, democratic donor and Obama supporter, George Soros is bailing out of the US stock market. The value of billionaire investor George Soros’s hedge fund dropped by 42% to $5.1 billion at the end of the second quarter.
Economic Policy Journal reported, via Free Republic:
Billionaire trader and political manipulator,George Soros, is clearly not optimistic. The latest SEC filings are out on the Soros hedge fund, Soros Fund Management.
Between the end of March and the end of June, Soros lowered his stock investments from $8.8 billion to $5.1 billion in the fund, Soros Fund Management.
He sold most of his positions (over 95%) in Wal-Mart, J.P. Morgan Chase and Pfizer.
His biggest positionb at the end of June was in the gold ETF which accounted for 13% of his equity portfolio at $638 million.
8 comments:
Bailing on WalMart is saying a hard rain's a gonna fall. He is saying China is effed as well in the loudest words possible.
The only safe place in such a situation is commodities.
If he starts investing in Archer Daniels Midland LOOK OUT BELOW. That would be saying growable protein food is a valuable commodity. Might as well invest in Remington Arms, too
This is depressing.
Capital IS A FORCE OF NATURE
AMORAL
SEEKING LEAST RESISTANCE
Wait a minute, Epa.
Maybe this story is much ado about nothing. Aren't hedge funds typically involved in hedging their bets, and more short term solutions as a way of offsetting long term investment problems?
Maybe.
However, CDO's & CDS's were also a hedge against long term problems and merely served to highlight the underlying problem >> The entire wealth and spending power of the nation was in speculative increases of real estate monetized in fake mortgages and home equity loans spent over and over.
In this case the underlying problem is that recovery without jobs is IMPOSSIBLE and we have been shipping jobs to lower hourly wage employees for 40 years.
To recover we'd have to have highly skilled labor galor and all be programming Wii games or something.
The last figure I saw was to recover JUST THE JOBS @ 2008 levels by the next election in 2012 we'd need to add 300,000 jobs a month every month. This WEEK .. we lost 500,000.
The fed can all the right things to prevent deflation, but they can't print jobs.
I'm trying to imagine a way out and it's not possible without major political changes, and an IDEA MAN leading (Newt+Ryan). It's essential to our economic SURVIVAL the democratic party way of doing things is COMPLETELY REPUDIATED starting in November and that congressional leadership then ACT. Boehner (IMHO) ain't that guy, either.
You cannot HATE BUSINESSMEN and then complain about lack of job creation, dems.
Law of nature.
Yes, I see your point.
I guess the question is, if Soros is removing money from a Hedge Fund, then where is he putting it.
For instance, if he were suddenly going Buffett, removing money invested in Wal-Mart via hedge fund, and instead buying Wal-Mart longterm, that would be great.
And, it's very unlikely that Soros would ever take such a tact.
Your analysis is true.
I still think it's a mistake to measure the market by what Soros is doing.
It seems to me Soros has always made money by doubting, whereas, Buffett always made money by having faith.
Am I wrong in that?
No, that is correct.
Soros made billions betting against the stock market and hedging against the dollar and euro. See his theory of Reflexivity. http://en.wikipedia.org/wiki/Reflexivity_(social_theory)
I don't claim to be an expert on market movements, and will leave the analysis of what it all means to others. What he does with one hand is no less important than what he does with the other. Watch where the settlement funds go from all of these sales and that will tell us what he is up to. (Not that he will share that with us)
Soros is one of the most dangerous men in our country because he has the means to implement his ideology. Sadly it is wishful thinking to expect him to loose any assets in the marketplace.
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