Will the stock market CRASH or will it continue its METEORIC rise? According to billionaire investor, George Soros, the market is due for a setback.
He has place big bets that the market will take a nose dive, and although he has been losing on that bet, he has decided to double up on that bet. This has peaked the interest of many.
Soros has played the S&P 500 to be forced downward after having a rise to record breaking ALL TIME HIGHS!
Check out this article:
Billionaire investor George Soros has upped what so far has been a losing bet on the U.S. stock market, according to recent filings.
The hedge fund manager and active supporter of progressive causes added bearish options plays to his portfolio during the first quarter.
His two primary plays — against large-caps via the S&P 500 and small-caps via the Russell 2000 — have a notional, or potential, value of $764.3 billion, according to an analysis from S&P Global Market Intelligence. The plays are through his family office Soros Fund Management.
They continue a trend he began in 2016 of betting against the market, moves that haven't worked out well considering the latest leg in the bull market. The S&P 500 is up 5.7 percent this year while the Russell 2000 is up fractionally at 0.3 percent.
As of the end of the quarter, Soros held 3.3 million shares of the iShares Russell 2000 exchange-traded fund puts, an increase of 36 percent from the previous quarter and carrying a notional value of $459.6 million. He increased his holdings of SPDR S&P 500 puts by 162 percent from the fourth quarter to 1.3 million shares, carrying a notional value of $304.7 million.
A Soros spokesman declined comment.
Puts are options to sell positions at an agreed-upon price and date.
It was a mixed bag otherwise for Soros, according to holdings in his 13-F form filed with the Securities and Exchange Commission.
A complete look at Soros' stock positions:
http://www.cnbc.com/2017/05/18/george-soros-has-added-to-his-losing-bets-against-the-stock-market.html