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George Soros is betting against American markets.
U. S. regulatory filings revealed that, as of June 30, the Hungarian-born hedge fund billionaire is holding put options – options he would profit from only if the underlying securities fall in value – on exchange-traded funds (ETFs) tracking major American indexes:
PowerShares QQQ Trust (Nasdaq: QQQ) SPDR S&P 500 ETF (AMEX: SPY) iShares Russell 2000 ETF (NYSE Arca: IWM) These index ETFs represent the tech-heavy Nasdaq, the broad S&P 500, and the small-cap Russell 2000 indexes – three of the four major market indexes in America. And Soros holds put options on all of them, which means he’s banking on the failure of not just one or two companies, but the markets as a whole.
This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ August 18, 2017.