Skip to comments.Soros bets bigger on Target [ Sees value in non union business ]
Posted on 09/07/2011 10:48:34 AM PDT by NoLibZone
An investment fund controlled by billionaire George Soros has significantly boosted its stake in Minneapolis-based Target Corp.
Soros Fund Management in New York, whose portfolio is worth more than $7 billion, purchased 543,900 shares of Target stock in the second quarter, according to documents filed with the Securities and Exchange Commission. Overall, Soros owns 552,600 shares, or 0.08 percent of the retailer, which the investment firm valued at $25.9 million, the filing says. (State Street Corp., Target's largest investor, owns 63.5 million shares, or 9.4 percent of the company.)
In an e-mail, Soros spokesperson Michael Vachon declined to comment.
Known for his outspoken politics, Soros has established himself as a savvy investor, especially with currencies. In one of his most famous exploits, Soros in 1992 shorted $10 billion worth of the British pound, betting correctly that Great Britain would allow the currency to devalue in relation to other currencies such as the German mark.
"When Soros takes a stake, it certainly draws attention" like Warren Buffett, said Glenn Johnson, a portfolio manager with Mairs & Power in St. Paul, which owns 2.7 million shares of Target stock. "But what are Soros' real intentions? Who knows?"
(Excerpt) Read more at startribune.com ...
Like other wealthy liberals , Soros does not walk his talk.
Bono, Buffet, etc.
Make note to self - go across the street to Wally World for new underwear.
Time to boycott Target....too bad, they were a nice alternative to Wallymart or Meximart as it is known in these parts.
Guess I have to quit shopping at Target now...
The local Target store looks like part of a ghost town most days, while the Walmart lot is overflowing. It isn’t a matter of location, Target just hasn’t attracted customers or retained them in this area.
Target’s a nice place to shop.
It’s coming down to getting everything from
yard sales and Sallies.
Went looking for what other companies
he’s invested in....long list.
Geez. If Soros’s man Obummer had this economy really in good health or at least on it’s way, Georgie would have invested in Neiman Marcus. Even Soros knows we are going to be in the toilet for a while. That is why he invested more in a low end chain.
1. A Jew who bet against Jews
2. An American who bet against America
3. A progressive who’s now betting against unionism
It won’t work. Soros bought a lot of shares in Wal-Mart and declared war on Target last year.