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Why do these stories always come out after a big move? George Soros lets it slip he has been way...
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Thursday, February 14, 7:36 AM ETWhy do these stories always come out after a big move? George Soros lets it slip he has been way short yen during its big move lower and has scored a $1B profit. Other big names cashing in are Einhorn, Loeb, and Bass. To Einhorn and Bass' credit, they've been publicly short the currency for some time. FXY flat premarket.
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This news story has 9 comments:
You actually expect that Soros would share his advance knowledge and thus have to share some of the profit with us commoners? You probably think he's going to pay his "fair share" of taxes on the profits as well then...
Like the sun rising in the east, you can be sure after some big macro move to have Soros leak to a friendly reporter that he took part. I have no reason to doubt Soros was short yen, but ... When did he go short? Where was he short from. After riding a losing position from ¥85 to ¥79 did he cut his bets, did he double down ...
I'm not doubting his ability as a trader, but stories like this just add puff to a legend.
Is that a joke? Why in the world would someone who controls a lot of money and needs time to get in and out of their investment tell everyone?
Do they intend to get back intoYCS or move on?
Barrons Roundtable expert Felix Zulauf expects the yen to go to 120, which means that YCS still has a lot more room to grow.
Could it be that the G20 meeting just provided a pause?
Does anyone have the next good idea? I have bought calls on NVO.
part-time professor