Anti-super PAC super PAC gets big money from Silicon Valley (SunlightFoundation)
Friends of Democracy, the super PAC founded by the son of George Soros that wants to spend millions of dollars to take money out of politics, raked in about $1.8 million in the first half of this year, according to a filing with the Federal Election Commission Friday. That haul includes six-figure donations from Sean Parker, a legendary tech entrepreneur who served as Facebook Inc (NASDAQ:FB)‘s first president, and Google Inc (NASDAQ:GOOG) software engineer Matt Cutts. Friends of Democracy was founded about a year ago by Jonathan Soros, the son of the liberal financier who contributed more than $23 million to outside groups to defeat President George W. Bush in 2004.
Gold will fall to $900 an ounce, says Jim Rogers (MoneyWeek)
American commodities guru Jim Rogers is on something of a roll. The 70-year old retired hedge fund manager, who co-founded the Quantum Fund with George Soros, has made a series of accurate market predictions, which have increased his standing with investors. So anyone holding gold might be worried to hear that Rogers thinks the yellow metal, which is already in a bear market, is set to fall another 25%. However, don’t panic: Rogers isn’t selling – he thinks gold’s best days still lie ahead of it.
Stanley Druckenmiller’s cheap stock picks (MarketWatch)
In May, billionaire Stanley Druckenmiller—the former head of Duquesne Capital and portfolio manager for George Soros—filed his 13F with the SEC, disclosing many of his long equity positions as of the end of March. While the information in 13Fs is a bit old by the time these filings are released, we’ve found that the most popular small cap stocks among hedge funds outperform the S&P 500 by an average of 18 percentage points per year and think that more strategies are possible as well.