As Losses Mount Soros Continues to Bet Against US Stocks
$SPY, $RUT, $QQQ
US SEC filings show George Soros continues to invest in Put options that will profit him only if the stock market they are linked to declines in value.
Soros Fund Management held put options on PowerShares QQQ Trust, SPDR S&P 500 ETF, iShares Russell 2000 ETF as of 30 June.
Each is an ETF (exchange-traded fund) that tracks a broad US stock market index. The bet is worth $1.8-B, Mr. Soros stands to profit only if the stock market falls.
A spokesman for Soros Fund Management, said the company would not comment on the filing.
In January, Soros said “it’s impossible to predict” US President Donald Trump’s actions, but he was nonetheless sure the market would dive deep.
Soon after Donald Trump won the election, Mr. Soros lost over $1-B by taking a short position on the market.
While Mr. Soros called Trump a “would-be Dictator,” and predicted uncertainty and a sell-off after his win, the markets have rallied significantly.
The US S&P 500 index is up over 10% YTD, the NAS Comp is up 18%, and DJIA is up over 11% YTD.
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