George Soros is buying Ackman’s longs (and shorts) (MarketWatch)
Billionaire George Soros is best known for his profitable macro investments, particularly in currency instruments, but his hedge fund Soros Fund Management engages in equity investments as well. Two of Soros’s biggest buys between April and June, and now two of his top five stock holdings, were J.C. Penney and Herbalife. Of course, these two stocks have been among billionaire Bill Ackman of Pershing Square’s highest profile positions. Ackman argued in December that Herbalife Ltd. (NYSE:HLF) was an illegal pyramid scheme, and he has been long J.C. Penney Company, Inc. (NYSE:JCP) for some time (recently he has been urging the Board to speed up its search for a new CEO).
Is gold back despite Soros and Paulson selling? (Futures Magazine)
An abatement in the wave of speculative selling pressure is allowing strong demand for physical gold from Asian buyers to assert its influence over the price and there is a growing case to be positive over the prospects of the yellow metal. However, a number of factors have hurt gold in recent months, not least position liquidation by star traders George Soros and John Paulson. But those are short-term influences. The elephant in the room for gold continues to be the U.S. Federal Reserve’s plans to taper its $85 billion a month bond purchasing program.
D’Amato to De Blasio: Stay Away from Soros! (The Jewish Voice)
New York City mayoral candidate Bill De Blasio was caught in the line of fire from an attack by former NY senator Alfonse D’Amato. In an interview with JPUpdates, the Republican blasted De Blasio for accepting support from billionaire George Soros. D’Amatio outlined numerous times Mr. Soros came out against Israel, denouncing it as an apartheid regime and a racist state. Senator D’Amato referred in particular to a 2007 editorial Soros penned for the Washington Post, in which he referred to the Jewish state as “the biggest stumbling block to peace”.
Micron Technology, Inc. (MU), LSI Corp (LSI), Radian Group Inc (RDN): Here’s What Smart Investor George Soros Has Bought (Insider Monkey)
George Soros is known to some folks these days for his politics and philanthropy, but his fame stems from his wealth, which is a result of his outstanding investing prowess. The biggest new holdings are J.C. Penney Company, Inc. (NYSE:JCP) and Herbalife Ltd. (NYSE:HLF). Other new holdings of interest include CST Brands and LSI Corp (NASDAQ:LSI). CST Brands Inc (NYSE:CST), spun off from Valero Energy, is a retailer operating about 1,900 gas stations and convenience stores. In its second quarter, it reported net income down 60% and revenue down 4%, but still topped analyst expectations for revenue and earnings. The drop was largely due to volatile fuel prices last year delivering some higher prices.