Tuesday, May 17, 2016

#Soros Doesn't Like US Stocks

Add Soros to the growing list of big names that don't like stocks. The bulls would be foolish to stay long a focused bear opportunity within a bear phase of sentiment. Neither are underway yet, but the message of the market is constantly changing.

Headline: Soros doubles bet against the S&P, goes for gold

Billionaire investor George Soros, who made a fortune betting against the British pound in 1992, on Monday disclosed a big bet on gold during the first quarter and doubled the wager against the S&P 500, according to a regulatory filing.

The 85-year-old’s fund disclosed a 2.1-million-share “put” option in an exchange-traded fund that tracks the S&P stock index.

Meanwhile, Soros — who has been warning of a repeat of the 2008 financial crisis, this time with China at the center of the storm — bought a 19-million share stake in Barrick Gold Corp., the world’s largest gold producer, along with “call” options in about 1 million shares in a gold-backed ETF set up by the World Gold Council.



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