Extremist left-wing billionaire George Soros has managed to crash many economies in different countries. Now, Soros is betting big on a stock market crash in this country, with what’s known as the ‘Soros Put.’
The second one is that the “Soros put”, a legacy hedge position that the 83-year old has been rolling over every quarter since 2010, just rose to a record $1.3 billion or the notional equivalent of some 7.09 million SPY-equivalent shares. Since this was an increase of 154% Q/Q this has some people concerned that the author of ‘reflexivity’ and the founder of “open societies” may be anticipating some major market downside.
Then again, as the chart below shows, as a percentage of total AUM, the put position rose to 11.1% of his notional holdings. By way of reference, as of June 30 2013, his SPY put may have had a smaller notional value, but it represented both more shares (7.8 million), and was far greater as a % of AUM, at 13.5%.
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| The George Soros ‘put’ – betting big on stock market crash – Image/Story credit: Zero Hedge |
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I wonder what Soros and Obama are planning after the mid-term elections. Smells fishy.