Posted on 02/18/2009 4:33:53 PM PST by Oldeconomybuyer
Though George Soros has been vocally bearish at various points over the last year, the hedge fund he founded was finding a lot of places to buy as 2008 closed out. Soros' portfolio value, as reported on SEC filings, actually increased by 20% between the end of Q3 and the end of Q4.
Soros' funds managed to ride out 2008's carnage with aplomb. According to Foreign Policy magazine, Soros's Quantum funds returned 10% in 2008, and according to Bloomberg, the Quantum Endowment Fund returned 8% last year. [snip]
The fund's holdings have generally been quite eclectic and, looking at Soros' top U.S.-listed, equity holdings at the end of 2008, this trend continued, with the fund opening new stakes in railroad Union Pacific, printer R.R. Donnelley, and Mexican homebuilder Homex Development. Soros also disclosed a position in Merrill Lynch, which was bought by Bank of America as the year closed out.
The fund was also pouring money into its top two stakes, fertilizer producer Potash and Brazilian oil giant Petrobras, and upping stakes in electronics retailer Best Buy and oil services giant Schlumberger.
(Excerpt) Read more at biz.yahoo.com ...
How old is that PO$. it has to end soon.
4 later
I'm not sure I believe this. Another Madoff?
Windfall Profits Tax!
Sorry, but this seems to be incompetent reporting. He didn't have to buy anything to get positive returns, as a matter of fact he probably got these by selling short last year, at least in excess of his long positions.
All he needs is a fluffy white lap cat and a crazy Korean bodyguard.
The ‘evil wizard’ knew all along. . .I mean, he help orchestrate a good bit of this mess; of course he was knew where to play.
Pardon me....who did the audit?
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