Soros Returns Capital, Avoids Dodd Frank - LLLLMMMMFFFAAAOOOO!!!!!

[Soul Crusher]

Soros Returns Capital, Avoids Dodd Frank
Robert Holmes
07/26/11 - 08:04 AM EDT
http://www.thestreet.com/print/story/11198058.html



BOSTON (TheStreet) -- George Soros, the billionaire hedge-fund manager and philanthropist best known for breaking the Bank of England in 1992, will return capital to investors in order to avoid reporting requirements under the Dodd Frank reform act.


Soros will return money to investors by the end of the year, Bloomberg reported Tuesday, citing two people briefed on the matter. Soros Fund Management will focus on managing assets for his family, according to a letter to the firm's investors. Soros will turn 81 on August 12.

 
George Soros 


"We wish to express our gratitude to those who chose to invest their capital with Soros Fund Management LLC over the last nearly 40 years," the letter to investors reads, according to the Bloomberg report. "We trust that you have felt well rewarded for your decision over time."


Initial media reports trumpeted the end of Soros' 40-year career as a hedge-fund manager, although the billionaire investor's firm is far from being done. Soros will return less than $1 billion to external investors, a drop in the bucket compared to the firm's total assets of more than $25 billion.


The reason? Under new requirements from the Dodd Frank act, hedge funds are required to register with the Securities and Exchange Commission by March 2012 if the fund continues to manage more than $150 million in assets for outside investors. The new requirements would call for funds to report information about the assets they manage, potential conflicts of interest, and information on investors and employees. The act allows an exemption for what the Commission considers "family office" advisers.



"We have relied until now on other exemptions from registration which allowed outside shareholders whose interests aligned with those of the family investors to remain invested in Quantum," the letter continued, according to the Bloomberg report. "As those other exemptions are no longer available under the new regulations, Soros Fund Management will now complete the transition to a family office that it began eleven years ago."



>> Get your financial news on the go with TheStreet's iPad app.


While less than $1 billion is small compared to the firm's overall assets, some positions will have to be trimmed through the end of the year. According to Soros' last 13F filling with the SEC for the quarter ended March 31, his firm's top 10 holdings included Adecoagro(AGRO), InterOil(IOC), Motorola Solutions(MSI), Monsanto(MON), Citigroup(C) and Wells Fargo(WFC), among others.


-- Written by Robert Holmes in Boston.


>To contact the writer of this article, click here: Robert Holmes.

>To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet.

>To submit a news tip, send an email to: tips@thestreet.com.



________________________ ____________________


Obama is destroying another industry and even now his sfenghali knows it. 

Can't make this up any more. 

[240 is Back]

Great move by Chris Dodd to write this bill.  Hope he's healing well.

[tu_holmes]

I disagree with your assessment. Sounds like someone doesn't want to play by the rules, so they take their ball and go home.

Sorry dude. Everything isn't about Obama being a fuck up.

[Soul Crusher]

I disagree with your assessment. Sounds like someone doesn't want to play by the rules, so they take their ball and go home.

Sorry dude. Everything isn't about Obama being a fuck up.

guess what TU - those people taking their ball home are not only scum like Soros, ITS EVERYONE IN BUSINESS!   


The clowns who complain about "EVIL CORPORATIONS" are so fucked in the head its not funny. 


companies are not going to sit around and be whipping posts and pinatas for communist tyrants like obama.  Reality does not work that way anymore. 

Personally, and in a sadistic way, I love this.  Its the only way to teach a lesson to the do gooder leftist marxist trash in this nation that their grand schemes will end up starving and impovershing them.

I have not an ounce, not even a drop, of sympathy for the out of work leftist begging for work who at the same time trashes corporations and business and thinks the govt needs to keep passing these tyrannical bills. 

 Let em starve for all I care. 

[tu_holmes]

guess what TU - those people taking their ball home are not only scum like Soros, ITS EVERYONE IN BUSINESS!   


The clowns who complain about "EVIL CORPORATIONS" are so fucked in the head its not funny. 


companies are not going to sit around and be whipping posts and pinatas for communist tyrants like obama.  Reality does not work that way anymore. 

Personally, and in a sadistic way, I love this.  Its the only way to teach a lesson to the do gooder leftist marxist trash in this nation that their grand schemes will end up starving and impovershing them.

I have not an ounce, not even a drop, of sympathy for the out of work leftist begging for work who at the same time trashes corporations and business and thinks the govt needs to keep passing these tyrannical bills. 

 Let em starve for all I care. 

You think that some leftist worked for this guy?

Also, it's been 40 years... Dude wants to retire... big deal. It's opportunistic, not shocking.

[Necrosis]

guess what TU - those people taking their ball home are not only scum like Soros, ITS EVERYONE IN BUSINESS!   


The clowns who complain about "EVIL CORPORATIONS" are so fucked in the head its not funny. 


companies are not going to sit around and be whipping posts and pinatas for communist tyrants like obama.  Reality does not work that way anymore. 

Personally, and in a sadistic way, I love this.  Its the only way to teach a lesson to the do gooder leftist marxist trash in this nation that their grand schemes will end up starving and impovershing them.

I have not an ounce, not even a drop, of sympathy for the out of work leftist begging for work who at the same time trashes corporations and business and thinks the govt needs to keep passing these tyrannical bills. 

 Let em starve for all I care. 

your iq has to be low to continue calling obama a communist, have you read any marxist writings? because his policies do not reflect communist teachings, which at heart are humanist and good. Humans wont allow it to work, im convinced they shouldn't also.

[Soul Crusher]

Guess what TU?   So do many business people who are shutting down because they no longer want to deal with the shit sandwhiches coming daily from the govt!  

Guess where all those jobs go?


At some point, we are not there yet, maybe when the idiots in this country are begging in the street for food, they will stop the anti-business marxist bullshit.  

[tu_holmes]

Guess what TU?   So do many business people who are shutting down because they no longer want to deal with the shit sandwhiches coming daily from the govt! 

Guess where all those jobs go?


At some point, we are not there yet, maybe when the idiots in this country are begging in the street for food, they will stop the anti-business marxist bullshit.   

Businesses are shutting down? Really? People don't need stuff anymore?

Businesses shut down when there is not enough demand to warrant a product... That's it. If my family's subway franchises can make it, even with the new laws, then these clowns can MORE than make a profit.

We're even expanding out into new avenues that are related to the fast food industry.

[Vince G, CSN MFT]

Soros Returns Capital, Avoids Dodd Frank
Robert Holmes
07/26/11 - 08:04 AM EDT
http://www.thestreet.com/print/story/11198058.html



BOSTON (TheStreet) -- George Soros, the billionaire hedge-fund manager and philanthropist best known for breaking the Bank of England in 1992, will return capital to investors in order to avoid reporting requirements under the Dodd Frank reform act.


Soros will return money to investors by the end of the year, Bloomberg reported Tuesday, citing two people briefed on the matter. Soros Fund Management will focus on managing assets for his family, according to a letter to the firm's investors. Soros will turn 81 on August 12.

 
George Soros 


"We wish to express our gratitude to those who chose to invest their capital with Soros Fund Management LLC over the last nearly 40 years," the letter to investors reads, according to the Bloomberg report. "We trust that you have felt well rewarded for your decision over time."


Initial media reports trumpeted the end of Soros' 40-year career as a hedge-fund manager, although the billionaire investor's firm is far from being done. Soros will return less than $1 billion to external investors, a drop in the bucket compared to the firm's total assets of more than $25 billion.


The reason? Under new requirements from the Dodd Frank act, hedge funds are required to register with the Securities and Exchange Commission by March 2012 if the fund continues to manage more than $150 million in assets for outside investors. The new requirements would call for funds to report information about the assets they manage, potential conflicts of interest, and information on investors and employees. The act allows an exemption for what the Commission considers "family office" advisers.



"We have relied until now on other exemptions from registration which allowed outside shareholders whose interests aligned with those of the family investors to remain invested in Quantum," the letter continued, according to the Bloomberg report. "As those other exemptions are no longer available under the new regulations, Soros Fund Management will now complete the transition to a family office that it began eleven years ago."



>> Get your financial news on the go with TheStreet's iPad app.


While less than $1 billion is small compared to the firm's overall assets, some positions will have to be trimmed through the end of the year. According to Soros' last 13F filling with the SEC for the quarter ended March 31, his firm's top 10 holdings included Adecoagro(AGRO), InterOil(IOC), Motorola Solutions(MSI), Monsanto(MON), Citigroup(C) and Wells Fargo(WFC), among others.


-- Written by Robert Holmes in Boston.


>To contact the writer of this article, click here: Robert Holmes.

>To follow Robert Holmes on Twitter, go to http://twitter.com/RobTheStreet.

>To submit a news tip, send an email to: tips@thestreet.com.



________________________ ____________________


Obama is destroying another industry and even now his sfenghali knows it. 

Can't make this up any more. 

The Dodd Frank act is the end result of the mess caused by ponzi people like Madoff, predatory lenders, check cashing schemes, and the real estate meltdown.  

Needed to happen and Soro's investors are the "lucky few" in comparison to countless others who have lost their life savings

[Soul Crusher]

Businesses are shutting down? Really? People don't need stuff anymore?

Businesses shut down when there is not enough demand to warrant a product... That's it. If my family's subway franchises can make it, even with the new laws, then these clowns can MORE than make a profit.

We're even expanding out into new avenues that are related to the fast food industry.

YES! 

Dude do you read anything at all! 

Look at the monthly jobs and household data and surveys, even from the BLS.  I do each month. 

Every month, the number of self employed and family businesses are dwindling by tens if not hundreds of thousands. 

Where do you think all these people are going?  Seriously.  most of these people are shutting down businesses and just hanging out waiting to get on SS in 5-10 years and drastically cutting down their lifestyles since its no longer worth it for them to stay in business and deal with the bullshit.