George Soros

[winston]

I better raise some cash fast too ...

Soro's Fund are 75% Cash.

Source: Bloomberg TV

[LenaHuat]

. Good idea to have cash now

[tonylim]

WB is doing the opposite ?

[LenaHuat]

I see . If one is averaging up, one needs cash now.

[winston]

Soros to return outsiders' hedge fund money: report

BOSTON (Reuters) - Hedge fund manager George Soros is returning capital to outsiders, choosing instead to invest his billions only for himself at a time when new regulations threaten to crimp how these funds may operate, Bloomberg Television reported.

The octogenarian fund manager will end his nearly four-decades long run as one of the world's most storied hedge fund managers by becoming a family office, the report said. His chief investment officer, Keith Anderson, will leave. New regulations were cited as pushing Soros to take his decision.

A Soros spokesman did not immediately return a call seeking comment.

Many wealthy and well-established fund managers, including Carl Icahn and Soros' former deputy Stanley Druckenmiller, are deciding that managing money for others may create more headaches than necessary.

Fresh financial regulations will force formerly loosely regulated hedge funds to register with the U.S. Securities and Exchange Commission and provide far greater details about how they operate and make money than ever before.

http://www.reuters.com/article/2011/07/ ... inessearly

[iam802]

maybe that's why he is raising cash

[winston]

On CNBC:-

1. US is already in a double dip

2. Expecting 2 or 3 small countries to default or leave the EU

3. Liquidity problem. European banks are main source for EMs at US$3.5t,
US Banks at US$740b and Japanese banks at US$310b

[kennynah]

2. Expecting a few countries to leave the EU

not sure so about this...

but if it does, it will be historically recorded as a gigantic failure of modern economics...and of europe as a powerhouse..

[winston]

Need to remind myself of the "Theory of Reflexivity", mentioned by Soros.

Essentially, the drop in the markets, can change the fundamentals of your companies.

Therefore, be a bit careful when using the various yardsticks when analysisng your company. The yardsticks will not remain the same if there's a 80% drop in Commodities, Currency, Equities or Properties.

Cant happen ? Have you lived thru the AFC or the Lehman Crisis ?

[winston]

George Soros: Eurozone Deal Will Last One Day to Three Months

“Veteran investor George Soros has attacked the lack of leadership at the top of the eurozone and said that the new Brussels “deal” to solve the debt crisis will only last between “one day and three months”.

Soros makes a number of telling points.

The first being that for all the talk of the “50% haircuts” the actual level of Greek debt is only being cut by 20%.

This is because it is only private sector holders of the Greek debt that are being asked to take the haircut.

Given that so much of the debt is held by public sector organisations, the total cut in the debt level simply isn’t sufficient to deal with the problem.

Yes, as Soros says, the markets have bounced upon the announcement of the deal but this is because almost any deal, news of any deal, would be better than the vacuum and bumbling that preceded it.

However, Greece is still insolvent and increased austerity simply isn’t going to make it solvent again.

The crisis simply is not solved.

He makes another intriguing point as well: the deal does not trigger CDS payments. But for some banks, the CDS payment would be better than taking a 50% haircut.

So it will be in those banks’ interests to not tender their debt for the haircut but to hold out and wait for a credit event. And the more banks that hold out the more likely a credit event becomes…..

Another way of putting this is that the Fat Lady hasn’t sung so it’s not over yet.

http://www.forbes.com/sites/timworstall ... =dailycrux