Tuesday, May 17, 2016 1:25:24 PM
George Soros bets big against U.S. stocks
The legendary investor doubled his negative bet against the S&P 500 to more than $430 million, according to regulatory filings made public this week.
Soros, known as the "man who broke the Bank of England," is instead investing in gold. He plunked down $387 million to amass new positions in a gold ETF and also bought shares of Barrick Gold (ABX), the world's largest gold miner in the first quarter. Gold tends to do well when people are afraid.
Those three bets are now among the largest in Soros' hedge fund and reflects how downbeat he is on U.S. markets. Earlier this year Soros sounded the alarm on global financial markets by saying the situation in China reminds him of the 2008 crisis.
http://money.cnn.com/2016/05/17/investing/george-soros-betting-against-stocks-buy-gold/
The legendary investor doubled his negative bet against the S&P 500 to more than $430 million, according to regulatory filings made public this week.
Soros, known as the "man who broke the Bank of England," is instead investing in gold. He plunked down $387 million to amass new positions in a gold ETF and also bought shares of Barrick Gold (ABX), the world's largest gold miner in the first quarter. Gold tends to do well when people are afraid.
Those three bets are now among the largest in Soros' hedge fund and reflects how downbeat he is on U.S. markets. Earlier this year Soros sounded the alarm on global financial markets by saying the situation in China reminds him of the 2008 crisis.
http://money.cnn.com/2016/05/17/investing/george-soros-betting-against-stocks-buy-gold/
My post is for Your Eyes only and my entertainment
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
