George Soros bets $2B-plus on stock market collapse: industry insiders
Billionaire businessman George Soros has upped his ante in what some industry insiders say in his long-running bet that the United States will suffer a massive stock market collapse in the coming months.
The most recent 13-F filing Mr. Soros made with the Securities and Exchange Commission indicates that the Soros Fund Management that he heads up has increased its “puts” on the Standard & Poor 500 exchange-traded fund by a massive amount, between the first and second quarters.
By the numbers, Mr. Soros boosted his position to 11.3 million put options – bringing the dollar value of his position from $299 million to $2.2 billion.
Stock market insiders say such a move is little more than a bet that the price of the stock market will take a dramatic fall.
Source: washingtontimes
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