Posted on 09/16/2008 5:02:11 AM PDT by AmericanMade1776
LONDON (Reuters) - The bankruptcy filing of Lehman Brothers (LEH.N) is another blow for the hedge fund industry, though the writing has been on the wall long enough for many to have reduced their exposure to the U.S. investment bank.
Legendary fund manager George Soros, who runs around $18 billion in assets, looks likely to have had his fingers burned after raising his stake in Lehman to 9.5 million shares in the second quarter.
A spokesman for Soros Fund Management declined to comment on the composition of their portfolio.
British activist hedge fund Algebris will also probably have taken a hit from the fall in the share price of what was the fourth-largest U.S. investment bank.
(Excerpt) Read more at washingtonpost.com ...
IMO the only problem we have with our economy is several groups are attacking it. From OPEC, to China, Russia and people like Soros. I hope Soros goes bankrupt.
It’s an ill wind that blows NO good.
John McCain was correct when he said the economic fundamentals are still good in this country.
Today, Most Americans will get up, go to work, and provide for themselves and their families. To most Americans, the losses of George Soros, or the investors in Lehman Brothers will not matter, as they are not in that league anyway.
Today Americans will go out and buy gas for their cars (oil prices lower), go to work and buy some fast food at McDonalds or Burger King. After work they will stop by the grocery store for extra food, go home and shop online or watch TV, or shop for a new TV and clothes for work.
The beat goes on.
What? To wish George Soros ill ? I hope he loses everything. I can deal with it. There is no great ill will than George Soros.
Someone said $400 billion was Lehman’s price if the government were to back its sale in one piece. Its breakeup value does not approach this figure.
Well the Taxpayer should be there to prevent any large loss by Soros and all these billionaires, after all.
Hedge Funds are unregulated and risky and only attract the super rich any way. I won’t lose any sleep as long as the Fed doesn’t bail them out. No need for me to pay for their greedy mistakes.
“Legendary fund manager George Soros, who runs around $18 billion in assets, looks likely to have had his fingers burned after raising his stake in Lehman to 9.5 million shares in the second quarter.
A spokesman for Soros Fund Management declined to comment on the composition of their portfolio.
British activist hedge fund Algebris will also probably have taken a hit from the fall in the share price of what was the fourth-largest U.S. investment bank.”
Great news. Hopefully, $oreA$$ got hit hard with the market losses on gold and oil the past few months along with this loss. Maybe a lot of his investors will have to retreat, lick their wounds, live off their trust funds and have less money for their phoney non profits to launder for Snobami.
When hedge funds like $oreA$$’s take a hit, that is or will be good news for our side.
$oreA$$ is probably more dangerous to us than Bin Laden, if he is still alive. Snowbami is $oreA$$’s newest puppet for president.
Finally, at long last we found something the Federal government couldn’t afford. Making good Lehman’s $400billion bad debt.
Snowbami is $oreA$$s newest puppet for president.
Unlike Kerry, Obama Covets Soros' Support (7-28-2004 Article)
Hopefully, $oreA$$ is getting crushed with the drop in oil, gold and commodity option prices.
Maybe his loses with the left wing financial companies like Lehmann will be enormous too.
Then, we can only hope that his biggest loss in 2008 is his puppet, SnoBami.
I surely do look forward to Palin-McCain TROUNCING
Barack HUSSEIN “Milhous” Obama on November 4th!
REMINDER to LURKING Democrats:
This year, the Republicans vote on Tuesday November 4th,
and the Democrats vote on WEDNESDAY November 5th.
Don’t forget and DON’T BE LATE !!!!
... and on that note, I hafta head out for the day.
See ya later! :^D
Dead, illegal aliens and felon Democrats vote on WEDNESDAY November 5th.
We have reserved this special date for all dead, illegal alien and felon voters. There will be free beer, Thunderbird wine and barbeque at the polling sites. Party all day on Tuesday with the money given to you by your local community organizer and vote anytime on Wednesday, November 5th.
If there is any bright spot to all of this, is that George Soros might of had his fingers burned in all of this.”
Goodness!! What is Chelsea Clinton going to do for a job???
If there is any bright spot to all of this, is that George Soros might of had his fingers burned in all of this.”
Goodness!! What is Chelsea Clinton going to do for a job???
Covets his support”
Most of us conservatives think Soros is the original puppet master behind the Nobama rise to stardom.
That is one 1st class poster.....
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.