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Saturday, November 30, 2013

Soros Posts Losses with JKS, TRQ and YUME, Sighs TGIF

Today’s midday gainers are International Tower Hill Mines Ltd (NYSEMKT:THM), Unwired Planet Inc (NASDAQ:UPIP), SolarCity Corp (NASDAQ:SCTY) and midday losers are JinkoSolar Holding Co., Ltd. (NYSE:JKS), Turquoise Hill Resources Ltd. (NYSE:TRQ), YuMe Inc. (NYSE:YUME).
Soros gets a dlight boost with Unwired Planet

International Tower Hill Mines Ltd (NYSEMKT:THM) is our top midday gainer. The gold mining company increased +7.53% to $0.40. This was a great news for John Paulson, who owns 8.9 million shares (0.02% of his portfolio). The billionaire paid an average price of $4.77 per asset.

Following Tower Hill Mines Ltd. is Unwired Planet Inc (NASDAQ:UPIP). The tech stock is up +7.14%, trading at $1.50. Investor George Soros holds 6.4 million shares purchased for $2.57, representing 0.12% of his fund.

Last but not least is SolarCity Corp (NASDAQ:SCTY). The solar energy company shot up +6.54% to $52.28. Tiger Global Management bought 500,000 shares for $36.89 each last quarter. This position composes 0.29% of the fund’s portfolio

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George Soros
George Soros

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George Soros was born in Budapest, Hungary, in 1930. His father was taken prisoner during World War I and eventually fled from captivity in Russia to reunite with his family in Budapest. Soros was thirteen years old when Hitler's Wehrmacht seized Hungary and began deporting the country's Jews to extermination camps. In 1946, as the Soviet Union was taking control of the country, Soros attended a conference in the West and defected. He emigrated in 1947 to England, supported himself by working as a railroad porter and a restaurant waiter, graduated in 1952 from the London School of Economics, and obtained an entry-level position with an investment bank.

In 1956, Soros immigrated to the United States, working as a trader and analyst until 1963. During that time, he developed his own theory of markets called 'reflexivity', which he has laid out in his recent books THE ALCHEMY OF FINANCE and THE CREDIT CRISIS OF 2008 AND WHAT IT MEANS. In 1967 he helped establish an offshore investment fund; and in 1973 he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds, through which he accumulated a vast fortune.