Posted on 08/19/2015 3:17:15 AM PDT by UMCRevMom@aol.com
Billionaire investor George Soros, has demonized fossil fuels for years through his think tanks and political contributions, warmed up to Big Coal now that stocks are dirt cheap.
The left-wing hedge fund legend has raised eyebrows with major purchases of stock in two large coal companies, firms his critics say he helped bring to their knees. While buying low is the hallmark of any shrewd investor, buying coal goes against the political and environmental ideology Soros has long espoused.
The trades would have cost Soros a lot more six years ago, when Peabody, which trades under the symbol BTU, was about $90 a share. Under the Obama administration, which has punished the coal industry with costly mandates and regulation, Peabody shares have fallen to around $1.
The filing shows the purchases of 553,200 shares of Arch Coal for $188,000 and investment of $2,254,000 into Peabody Energy for 1,029,400 shares, which means he’s lost money on both so far. Peabody, the biggest coal producer in the U.S. by output, said that it “has been trying to turn itself around as it faces challenges from low natural-gas prices, a glut of global coal supplies, weakened demand from China and a growing public call to cut carbon emissions.”
Soros Fund Management previously held $234 million in shares in the coal producing company, CONSOL Energy, but sold the shares over the last year.
Soros' Open Society Foundations, assets of $1.5 million, according recent IRS 990 tax form, claims over the last three decades expenditures of $12 billion.
Soros was convicted in a French court in 2009 of insider trading, which cost him the equivalent of $2.5 million in fines. That was the amount French prosecutors claimed he made 14 years ago after investing, allegedly with insider knowledge, a charge Soros denied.
(Excerpt) Read more at foxnews.com ...
GEORGE knows Somthin’... don’t he..
Probably, he knows, when Ted Cruz is elected things will change..
And he’s positioning for those changes..
Thats why he’s buying Coal Mines..
In A Decent Department Of Justice, Georgie would be in prison.. and a boatload of other Crony Capitalists..
Can’t wait for a Georgie goes to prison party..
and the National Holiday when the CLintons and Obama do..
he's sure not buying them to shut them down...
Cruz or Trump will bring back the coal business.
He’s sensing a Hillary doomed campaign.
That’s it in a nutshell.
Those who own the energy, own the country.
Cruz or Trump will bring back the coal business.
He’s sensing a Hillary doomed campaign.
Not really the fix is in for Hellary..
Multi millions of illegagrants voting multiple times for more gimme..
is LOOOMING(2016),, you knew it was coming. well it’s HERE....
I expect the voter fraud to be EPIC.. historic.. AWESOME..
Because not only did most republican officials REFUSE to consider Immigration worse they refused to consider voter fraud.. most reluctantly admit 30 million illegals.. well you KNOW its got to be twice to three times that amount..
Say half of them vote and half of those vote multiple times and many democrats do.. We COULD have more votes than register voters.. voting.. Unless the fraudsters have become so good at it they can adjust those figure as well..
passing: Vote Ted Cruz -OR- learn Chinese..
my guess is soros is simply covering naked shorts he created in driving the coal stocks down.
Is he buying them to shut them down?
He would never lose money that way.
Those who own the debt own the country. The financiers like Soros have put the USA into debt, opened our borders,and sent our jobs to China, etc. and profited from our nation’s demise. He should be required to pay a price.
he’s selling them first to drive the prices down.
then buying the stock to cover his short sale positions.
it is most likely naked short selling (iow: selling shares he doesn’t own or hasn’t borrowed)
it is an illegal practice he’s used in the past to manipulate the price of the stock.
he doesn’t care whether the company shuts down or not
It’s all publicly traded so you can get rich riding his coattails (assuming he’s right).
or you could get smashed & bankrupted if you’re a stockholder of one of his targets.
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