Billionaire George Soros doubles his bet that the market is heading for a CRASH
Investmentwatchblog.com
February 17th, 2014
Soros Fund Management has doubled up a bet that the S&P 500 SPX is headed for a fall.
Within Friday’s 13F filings news was the revelation that the firm, founded by legendary investor George Soros, increased a put position on the S&P 500 ETF SPY -0.04% by a whopping 154% in the fourth quarter, compared with the third. (A put or short position basically gives the owner the right to sell a security at a set price for a limited time, and in making such a bet, an investor generally believes the security is going to decline.)
Soros highlighted risks coming out of China and drew a comparison with the lead-up to the crash of 2008.
It was Soros himself who famously once said: “I rely a great deal on animal instincts.” And as we all know, George’s made some big, crazy, winning bets in the past.
The Rest…HERE
