Posted on 02/17/2014 6:11:16 PM PST by Beave Meister
A curious finding emerged in the latest 13F by Soros Fund Management, the family office investment vehicle managing the personal wealth of George Soros.
Actually, two curious findings: the first was that the disclosed Assets Under Management as of December 31, 2013 rose to a record $11.8 billion (this excludes netting and margin, and whatever one-time positions Soros may have gotten an SEC exemption to not disclose: for a recent instance of this, see Greenlight Capital's Micron fiasco, and the subsequent lawsuit of Seeking Alpha which led to the breach of David Einhorn's holdings confidentiality).
The second one is that the "Soros put", a legacy hedge position that the 83-year old has been rolling over every quarter since 2010, just rose to a record $1.3 billion or the notional equivalent of some 7.09 million SPY-equivalent shares. Since this was an increase of 154% Q/Q this has some people concerned that the author of 'reflexivity' and the founder of "open societies" may be anticipating some major market downside.
Then again, as the chart below shows, as a percentage of total AUM, the put position rose to 11.1% of his notional holdings. By way of reference, as of June 30 2013, his SPY put may have had a smaller notional value, but it represented both more shares (7.8 million), and was far greater as a % of AUM, at 13.5%.
(Excerpt) Read more at zerohedge.com ...
But, but . . . maybe he is leaving his money to a lot of mini-Soros look-alikes devoted to his evil schemes! AAAAAAAAaaaaaaaaaaaaaaaaaaaaaaagggggggggggh!!!!!!!
I replied to another post earlier about the 'puppet masters'...fitting timing, this post.
You're spot-on, imho.
Betting on the market to crash is a pretty safe bet.
Hopefully, $orea$$’s puts, shorts on SPY and DIA and investments in DOG came due today, and he has to declare bankruptcy and does the honorable thing.
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