| Will Soros Put His Money Where His Mouth Is? | 10/30/09 |
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It will be interesting to see where billionaire investor George Soros put his fund’s money at the start of Q4. According to Bloomberg, George Soros said the globally economic recovery is “liable to run out of steam” and is forecasting a “double-dip” led by the United States. A week ago, Soros told the Financial Times that “the main source of the problem is in the United States. This is where consumers have spent more than they earned for a period of 25 years.” As for the stock market, Soros said, “right now we are enjoying the confidence multiplier,” which will disappear when the V-shape recovery investors are hoping for does not come to fruition. Given his outlook for the economy, it will be interesting to see where Soros put his money heading into the fourth quarter. At the start of Q3, the most recent timeframe available, Soros Fund Management’s top-15 U.S.-listed holdings included a handful of consumer plays. Electronics retailer Best Buy (BBY), drug store Walgreen (WAG), and auto parts retailer AutoZone (AZO) all suffered during the recession, and would likely be hurt similarly in a second dip. Other holdings at the end of the second quarter included fertilizer plays Monsanto (MON) and Potash of Saskatchewan (POT), as well as energy plays Covanta (CVA), Entergy (ETR), and Brazilian Petroleum (NYSE: PBR, PBR-A). Tickerspy’s graph charting the performance of Soros’ latest reported holdings shows that the positions forfeited much of the gains they built on the S&P 500 earlier this month, however they remain ahead of the benchmark by 3.6% in October. If you want to see how your performance stacks up to Soros’ or to see some of the other stocks he’s invested in, visit tickerspy.com to see his firm’s top holdings and a chart of their combined performance Pro portfolio performance is based on institutions’ top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time. |
