Unpredictable risks caused 2008 economic crisis, says Soros at Budapest CEU

Risks can be quantified but all of their elements cannot be calculated in advance and this led to the 2007/2008 financial crisis, US financier and philanthropist George Soros said on Wednesday at the university he founded in Budapest.
The Hungarian-born businessman launched the Hungarian edition of his latest book The Soros Lectures at the Central European University, where he is honorary chairman of the board.

George Soros Invested in Dry Ships and Diana Shipping, but Should You?

by Blake Bos, The Motley Fool Nov 26th 2013 8:34PM
Updated Nov 26th 2013 8:36PM

George Soros' investment firm recently purchased 590,278 shares of DryShips and 77,942 shares of Diana Shipping . That comes out to a $1.8 million stake in DryShips and an $841,000 stake in Diana Shipping. Soros' firm currently manages right around $6.8 billion spread across 2,333 holdings, so these additions are a very small portion of the total portfolio. The firm also owns small positions in Navios Maritime Holdings and Navios Partners.

Whether it's Soros himself or his fund managers, it appears his company is making a small bet on the dry bulk shipping sector, with DryShips and Diana Shipping leading the pack. So just what would motivate Soros to invest in this sector?

Some history on Soros' motivations for speculating
Looking at Soros' biography in Money Masters of Our Time by John Train, Soros is known as a speculator by nature, with an ability to trade in and out of positions quickly using margin debt. His strategy revolves around three main points, according to Train:

Ex-Soros Adviser’s Dalton China Fund Beat Peers With 25% Return

Nov. 25 (Bloomberg) -- The Dalton Greater China Fund, run by James Rosenwald III, a former adviser to funds linked to billionaire George Soros, beat peers with a 25 percent return this year, an investor newsletter seen by Bloomberg News showed.

The $64 million fund outperformed the Eurekahedge Greater China Long-Short Equities Hedge Fund Index by almost 10 percentage points in the first 10 months. Bets on Taiwanese technology companies including Himax Technologies Inc. and Hong Kong-based property developers drove performance, Tony Hsu, Rosenwald’s Shanghai-based co-manager, said in an e-mailed response to Bloomberg News queries.

George Soros' Top 10 New Stock Buys

After nearly four decades and achieving unprecedented returns for a 26-year stretch through his Quantum Fund, George Soros has moved on to devote the majority of his time to philanthropic efforts. Though he closed his then-$25.5 billion Soros Fund Management LLC to outside investors in 2011 to avoid registering with the SEC, he still has a hand in its management of his and his family's wealth.

In the third quarter, Soros' fund purchased 91 new stocks and at quarter end held a total of 232 stocks which have an aggregate fair value of $9.14 billion. The amount of turnover from the previous quarter was 24%.

The recent performance of Soros' stock selections:



The 10 Largest New Buys

Microsoft ( MSFT )

Soros Gets a Little Lift from Startup Pick OpenTable

Today’s daily gainers are OpenTable Inc (NASDAQ:OPEN), Alliance One International, Inc. (NYSE:AOI), ING US Inc (NYSE:VOYA) and daily losers are BioFuel Energy Corp. (NASDAQ:BIOF), YY Inc (NASDAQ:YY), SandRidge Energy Inc. (NYSE:SD).
Soros wins with OpenTable

Today’s top gainer is OpenTable Inc (NASDAQ:OPEN), a company that provides restaurant reservation solutions around the world. The stock shot up +13.79%, reaching $80.90, after announcing better-than-expected Q3 earnings. Billionaire George Soros acquired 36,000 shares (0.02% of his fund) for $62.49 each last quarter.

George Soros wins with Extreme Networks (NASDAQ:EXTR)

Today’s daily gainers are Extreme Networks, Inc (NASDAQ:EXTR), Alpha Natural Resources, Inc. (NYSE:ANR), Realogy Holdings Corp (NYSE:RLGY) and daily losers are Ryanair Holdings plc (NASDAQ:RYAAY), International Tower Hill Mines Ltd. (NYSEMKT:THM), LightInTheBox Holding Co Ltd (NYSE:LITB).
George Soros wins with Extreme Networks

Kicking off the week on top of our daily gainers list is Extreme Networks, Inc (NASDAQ:EXTR). The energy company shot up +15.81% ($6.22) after apparently having knocked it out of the park with its earnings report. Billionaire George Soros holds more than 9.2 million shares, representing 0.35% of his fund. The investor paid an average price of $2.48 per share.

Following Extreme Networks is Alpha Natural Resources, Inc. (NYSE:ANR). The energy stock increased +9.79%, reaching $8.16, after the company informed a new plan to cut $200 million in expenses. This was well received-news for John Paulson, who owns four million shares (0.15% of his fund). The billionaire paid an average price of $8.16 per share.
http://www.valuewalk.com/2013/11/soros-gets-boost-energy-extreme-networks-surge/

Soros Review: Four Highest-Yield Stocks

 The third quarter update of the Soros Fund Management portfolio, led by legendary Guru George Soros , lists 203 stocks, 59 of them new, with a total value of $9.22 billion, and a quarter-by-quarter turnover of 19%. George Soros is averaging a 12-month return of 26.3%.

Here's a review of the four highest-yield stocks in the Soros portfolio:

Penn Virginia Corporation ( PVA )

Yield: 16.40%

Up 99% over 12 months, Penn Virginia Corporation, an independent oil and gas E&P company, has a market cap of $600.69 million; its shares were traded at around $9.20. Shares trade with a P/B of 0.67.

Guru Action: As of the second quarter of 2013, George Soros holds 1,878,242 shares valued at around $8.82 million.

Read more: http://www.nasdaq.com/article/soros-review-four-highestyield-stocks-cm295729#ixzz2jg752iRr

George Soros & The Robin Hood Tax

George Soros-funded economist Jeffrey Sachs this week briefed members of Congress on the so-called Robin Hood tax, which calls for a small fee on Wall Street trades.

The Robin Hood tax was proposed by U.S. politicians closely tied to the country’s largest socialist organization, WND has learned.

The Congressional Budget Office has warned the Robin Hood tax on certain financial transactions could “diminish the importance of the United States as a major financial market” and that “imposing the transaction tax would probably reduce output and employment.”

The imposition of the Robin Hood tax has been a key demand of the Occupy movement. It is heavily supported by billionaire George Soros.

Read more at http://www.wnd.com/2013/10/soros-tied-tax-advances-on-wall-street/#HzbP0HrAPjrkpjyD.99

George Soros : The Dollar is the Weakest Currency except for all the others

“The dollar is the weakest currency except for all the others,” George Soros, chairman of Soros Fund Management, told The New York Times last week.

George Soros and David Einhorn love these Stocks

By Meena Krishnamsetty and Matt Doiron

In August, billionaire David Einhorn's Greenlight Capital and billionaire George Soros's Soros Fund Management filed their 13Fs for the second quarter of 2013 with the SEC, disclosing many of their long equity positions as of the end of June. Despite the inherent delay in 13Fs- which sometimes causes market 

watchers to claim they have little utility for most investors—we've actually found that the most popular small cap stocks among hedge funds earn an average excess return of 18 percentage points per year, and we think that more strategies are possible as well. Our own small cap portfolio based on our monkeying strategy outperformed the S&P 500 by 29 percentage points since inception in August 2012.

http://www.marketwatch.com/story/george-soros-and-david-einhorn-love-these-stocks-2013-09-09?link=MW_latest_news

George Soros: BOJ Stimulus 'Quite Dangerous'

George Soros, Founder & Chairman of Soros Fund Management speaks to CNBC about the Bank of Japan's unprecedented stimulus program and how it could potentially work against the economy.

George Soros Pushes for Eurobonds

George Soros urged the Eurozone to start a new fund to buy Italian and Spanish bonds paid for by issuing so-called Eurobond. German Chancellor has already ruled that out. Germany's stance on Eurobonds could force Greece out of the euro.


Michael McKee -

"George Soros is going to be very disappointed. It's not going to happen. The things he is talking about are going to take a very long period of time. Investors want to know what's the short-term that will get us to the medium-term! The Europeans don't have anything to address those questions"


[Is this EU 2-day Summit going to accomplish somehow what some of the other meetings have not?]

"No it's not [Beautiful]. It's the 19th meeting they've had since the beginning of the crisis. It's going to end like all the others. With a statement saying we've made incremental progress on these things, we're getting there but it's important for Greece to stick to its austerity program. They're going to keep talking. There are no grounds for a breakthrough".

Soros Plans to Sponsor New Economic Thinking Institute

Billionaire investor George Soros is blasting free-markets. He says the entire global financial system is based on the false premise, that markets can be left to their own devices. Soros says he wants to create a "new economics." Bloomberg's Matt Miller reports. (Source: Bloomberg)

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Recovery bound to be Flat : George Soros

George Soros: The global recovery is "bound to be flat" because China is now the world's motor and it's a "smaller, slower" motor than the U.S. was, said the famed financier and chair of Soros Fund Management. (As an aside - and it's a big one given his track record - Soros said weakness in the dollar has become "a bit overextended" and observed the short-dollar trade is "extremely crowed.")


Source : Yahoo Finance

There is an asset bubble : George Soros

Soros, who runs hedge fund firm Soros Fund Management and has made his reputation with bold currency bets, said the U.S. dollar ought to be falling in value against the Chinese currency to allow the United States to contain its current account deficit.
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