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Billionaire trader and political manipulator,George Soros, is clearly not optimistic. The latest SEC filings are out on the Soros hedge fund, Soros Fund Management.
- Between the end of March and the end of June, Soros lowered his stock investments from $8.8 billion to $5.1 billion in the fund.
He sold most of his positions (over 95%) in Wal-Mart, J.P. Morgan Chase and Pfizer. - His biggest position at the end of June was in the gold ETF which accounted for 13% of his equity portfolio at $638 million.
Among the stocks that Soros added to the funds portfolio were Akamai Technologies, Salesforce.com, Netflix, and Chipotle Mexican Grill.
- Bottom line: He is bailing out of U.S. stocks that are impacted by the overall economy,
and just buying special
situation stocks that are less impacted by a downturn in the economy."
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