George Soros has come to be known as a political powerhouse of the left. Maybe he was indoctrinated early on to the myths of socialism, and as an adult he has used his immense wealth to help elect Democrats and defeat Republicans.
But being wrong headed about socialism doesn't mean he's wrong about everything. He has always been a very shrewd and successful investor. And he has the big buck to show for it.
So this news that his fund management company was holding put options on 7,090,000 shares of the SPDR S&P 500 ETF (SPY) at the end of Q4 is telling. Source: REVEALED: George Soros Doubled His Bet That The Stock Market Is Going Down.
The present tense of that Business Insider headline was a little bit misleading, but that's the price we pay in these days of website hit seeking missives.
Back to the point, by the end of last year Soros was betting that the market would go down. The S&P did take a dip in January, and he may have cashed out then. And what he's doing now isn't revealed. But it is interesting that this old socialist still has the timing touch.