Author Topic: George Soros sells all shares of Citigroup, BofA & JP Morgan. What does he know?  (Read 21588 times)

24KT

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George Soros sells all shares of Citigroup, B of A, & JP Morgan

Is this a sign of trouble ahead for the banking industry?

By John Vibes


(Photo: Wikimedia Commons)


WASHINGTON (INTELLIHUB) — Just over 2 decades ago banker George Soros made his most famous investment by shorting the British pound and pocketing a billion dollars in the process.  Since then he has become famous for betting on stock market crashes and in some cases even rigging markets to fail for his own gain.

Just months ago, Soros made headlines by making a billion dollar stock bet against the S&P 500.  At the time this was said to be a sign of trouble ahead for the US economy, as Soros has seemed to have had advance knowledge of market crashes in the past.  As a result of this reputation, investors have begun to keep a close eye on his holdings.

This week investors took notice again when Soros sold his shares of three major American banks, including Bank of America, JP Morgan and Citigroup.

The Wall Street Journal reported that “George Soros dumped his stakes in banks and went for tech and gold miners in the first quarter, according to a filing with the Securities and Exchange Commission Thursday. Soros sold his holdings in Citigroup (NYSE:C) , J.P. Morgan (NYSE:JPM) and Bank of America (NYSE:BAC)”

In February 2009, Soros said the world financial system had effectively disintegrated, adding that there was no prospect of a near-term resolution to the crisis. “We witnessed the collapse of the financial system … It was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom.”

 http://intellihub.com/george-soros-sells-shares-citigroup-bank-america-jp-morgan/



Aside from my own obvious conclusions (at least obvious for those who read my posts on the subjects) 
I think we should expect to see some vey interesting things shaping up come August 14th Yep I said it.

August 14th could prove to be an extremely pivotal day
w

Chadwick The Beta

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You are even more pathetic than Karen.

At least she isn't wonkey eyed.

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2Thick

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I'm not a fan of Citi or BAC.

I do kinda like JPM, and I heard one of the other big billionaires who is a major JPM shareholder the other day saying Jamie Dimon is perhaps the top CEO in the world in his opinion. I like WFC and Goldman better though.

Soros - like everyone else - is not always right on everything.
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avxo

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I'm not a fan of Citi or BAC.

I do kinda like JPM, and I heard one of the other big billionaires who is a major JPM shareholder the other day saying Jamie Dimon is perhaps the top CEO in the world in his opinion. I like WFC and Goldman better though.

Soros - like everyone else - is not always right on everything.

Jamie Dimon? Really? LOL.

24KT

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I'm not a fan of Citi or BAC.

I do kinda like JPM, and I heard one of the other big billionaires who is a major JPM shareholder the other day saying Jamie Dimon is perhaps the top CEO in the world in his opinion. I like WFC and Goldman better though.

Soros - like everyone else - is not always right on everything.

Of course he does, ...look at what he's done. Not only that, ...but he got taxpayer money, stayed out of jail,
...and has the top guns saying he's too big to jail? ...despite Holder's recent flip flop, he's still walking free.
w

James28

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Quote


Aside from my own obvious conclusions (at least obvious for those who read my posts on the subjects)  
I think we should expect to see some vey interesting things shaping up come August 14th Yep I said it.

August 14th could prove to be an extremely pivotal day

So, what happened then?

It's almost 4 months since August the 14th.

What happened?

When's the next D-Day meltdown date?
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