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To: khnyny

Yeah, Soros bought a lot of Petrobras before the loan was announced, I forgot to mention that in my post.

As reported at Bloomberg.com, George Soros purchased an $811 million stake in Petroleo Brasileiro SA (PBR), (better known as Petrobras) in Q2. The Brazilian oil company is now the largest holding in his fund, amounting to 22 percent of the total $3.68 billion of stocks and American depositary receipts held by Soros Fund Management LLC.

While the timing for Soros may not be perfect for this trade, a number of other people are also betting on Petrobras. As quoted by Ricardo Kobayashi from UBS Pactual SA: “Petrobras has something that other oil companies don’t have: oil - lots of it and they’re going to find more. If you can buy now and hang on, if you have the staying power, it’s great.’’
http://seekingalpha.com/article/91621-petrobras-buy-and-sit-tight-like-soros


30 posted on 09/30/2009 6:37:05 PM PDT by fours
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To: fours

That article I quoted is from before the loan announcement (”while the timing for Soros may not be perfect” ...) and of course now the timing looks pretty good. So, yeah, fishy?


31 posted on 09/30/2009 6:41:50 PM PDT by fours
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