“If investing is entertaining, if you’re having fun, you’re probably not making any money,” “Good investing is boring.” Those thoughts came from one of the most successful investors on the planet, George Soros. Soros is the rock star investor that broke the Bank of England in 1992 when he made $1 billion and his hedge fund made $7 billion betting that the pound sterling would lose value against the American dollar and the German Mark. Soros hasn’t stopped making big commissions since then. The 86-year-old George Soros still travels around the world promoting democracy and an open society. He may call America his home, but he believes he belongs to the world, or at least his opinions do. George tells it like it is when it comes to presidential elections, and investing in the global market. Soros is not happy with the European Union, and he thinks the British have lost their marbles by voting to leave the EU.
Soros attends economic summits, and he warns the world that a global recession is in the works. And, it could be as devastating as the 2008 financial meltdown. George Soros offered a plan to solve the migration crisis, and he warned the Greeks to stop spending money they don’t have. But people really begin to take notice when Soros buys and sells assets. George Soros got out of the investment business in 2015, but he returned in the first quarter of 2016 to manage his family fund, The Soros Management Fund. Only family money is in that fund and the total assets under management is $4.6 billion this year. Soros has been very vocal about his investments in the gold market, but what surprised some investors was his second quarter sale of three solid biotech companies.
Some investors follow Soros no matter what he does, but there are some hedge fund managers that think those three companies are moneymakers. The Soros Fund has 173 holdings, so dumping three biotech stocks doesn’t indicate that Soros is down on biotech companies. Liberty Broadband is Soros latest buy. The fund bought 8.9 million shares of that U.S. cable service provider. The Soros fund also bought 4.1 million shares of Rovi. Rovi is involved in the discovery, display, delivery, and monetization of digital entertainment. His investment in SPDR Gold and Barrick Gold were big news in 2016. Soros also bought shares in Communications Sales and Leasing, a real estate investment trust. And Soros got in on the new push to invest in Argentina when he bought 1.4 million shares of Grupo Supervielle.