The clean technology wave just got a little bigger. This tends to be a side-effect of interest from billionaire investor George Soros. And, as usual, it's more than just money; it's more than just a return. Soros, yet again, is trying to save the world. Interestingly, the bold move was announced at a meeting on climate change sponsored by Project Syndicate - an international association consisting of 430 newspapers from 150 countries (and thus with clear ties to the past, rather than future).

The investor and founder of Soros Fund Management LLC is planning to put $1 billion into clean-tech opportunities using what he calls "rather stringent criteria," which involves being "profitable but should also actually make a contribution to solving the problem [i.e., of clean technology adoption and proliferation]." Soros didn't provide any other details on the nature or scope of his investments.

Continue reading Soros to put $1 billion into clean-tech companies

Soros to put $1 billion into clean-tech companies originally appeared on BloggingStocks on Mon, 12 Oct 2009 08:30:00 EST. Please see our terms for use of feeds.

Continue reading Comfort Zone Investing: The glass isn't half empty -- it's half full

Comfort Zone Investing: The glass isn't half empty -- it's half full originally appeared on BloggingStocks on Sat, 11 Jul 2009 10:30:00 EST. Please see our terms for use of feeds.

Continue reading Soros blasts bailout as one-sided

Soros blasts bailout as one-sided originally appeared on BloggingStocks on Tue, 07 Apr 2009 10:10:00 EST. Please see our terms for use of feeds.

George Soros is one of the truly legendary figures in world finance. He doesn't use fancy mathematics and he doesn't follow the crowd. In 2007 he predicted the coming collapse of the world financial system. Unlike other pundits, Soros has the courage to make huge bets, often using his "feelings" about what he sees is happening.

Continue reading George Soros says commercial property values to decline 30%

George Soros says commercial property values to decline 30% originally appeared on BloggingStocks on Tue, 31 Mar 2009 10:50:00 EST. Please see our terms for use of feeds.

When financier George Soros makes a play, traders stand up and take notice. In 1992, Soros made $1 billion by selling the British pound.

Recently, he used the same strategy of betting against the pound. However, when the pound traded below $1.40 last Wednesday, Soros decided to cover his short position. The pound has traded up to $1.4256 against the dollar on Friday. As demand for the pound rose, it had the effect of putting pressure on the U.S. dollar.

Continue reading Soros covered his short position in the British pound

Soros covered his short position in the British pound originally appeared on BloggingStocks on Mon, 02 Feb 2009 14:06:00 EST. Please see our terms for use of feeds.

Yesterday, the market had a swing of over 900 points as indexes hit new lows for the year and then pushed upward to close 6% or so higher. Overnight, markets in Asia and Europe staged rallies of their own.

The stock market may march up for a while, but that can't be sustained and the odds are likely that it will crash and make new lows again before year's end.

The fiction is that the markets trade based on what they see six months into the future. Perhaps they see GDP recovering by then. Not a chance.

George Soros said yesterday that there is some chance that the world economy will enter a depression next year. That may be extreme, but a majority of business leaders and economists who want to be heard on the subject say that this is the most significant downturn of their lifetimes.

There is a view that falling housing prices are at the core of the disaster that has overwhelmed the financial structure of the country and is now hurting everything from retail sales to tech company revenue. Housing may be helped by government programs, but if unemployment hits 8% or better next year, the number of people who have to give up their homes could rise sharply. Lower interest rates do not help people out of work.

Another misconception about the future is that oil prices will continue to fall. With some OPEC nation's facing budget deficits due to crude dropping from over $140 to $55, the cartel will have to cut production to meet demand. That may mean a huge cut, but OPEC can match the drop in the global need for oil with a paltry supply.

The stock market has not stopped going down.

Douglas A. McIntyre is an editor at 247wallst.com.

Why a stock market rally can't be sustained originally appeared on BloggingStocks on Fri, 14 Nov 2008 09:15:00 EST. Please see our terms for use of feeds.

Congress will bring in a bunch of big hedge fund managers like George Soros and ask them why they make so much money. It will also try to figure out if they control too much of the trading on Wall Street and borrow too much money from banks putting them at risk if the hedge funds default.

According to The Wall Street Journal, "Already, momentum is building to monitor hedge-fund activities more closely and curtail some trading activities, through greater regulatory oversight and lower borrowing limits, industry insiders said."

The government may be going a little too far here. For starters, hedge funds are private institutions with the exception of a couple which have gone public. To a large extent what they pay their traders is based on a formula which their customers accept. These fees are not forced on anyone. It is not an odd analogy to say that a farmer who makes $100 million because he owns 50,000 acres of corn has reaped what he deserves for his labor. But, he is not going to be in front of Congress testifying about what he made. Free enterprise has given him his reward.

On the issue of whether hedge funds borrow too much money and then put it as risk by making aggressive trades, that can be regulated from the side of the banks. If the government thinks banks take too many risks in lending, it can curtail that through actions by the FDIC or the Fed.

The great majority of hedge funds make their profits fair and square. Regulating risk in private enterprise takes the incentives out of making money for hedge fund clients. And, that damages the economy's ability to create wealth, and through that, demand for goods and services.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Congress goes after hedge funds originally appeared on BloggingStocks on Mon, 10 Nov 2008 10:55:00 EST. Please see our terms for use of feeds.

Will the Paulson plan make money? Don't forget where we're getting the cash! originally appeared on BloggingStocks on Thu, 25 Sep 2008 12:12:00 EST. Please see our terms for use of feeds.

Wilbur Ross, the world's most famous buyer of bankrupt companies, who is a sage in his own right, attacked the government''s bank bailout plan. Like Warren Buffett and George Soros, the media hangs on his comments. He has made a billion dollar fortune and is, therefore, considered smarter than most people, whether that is true of not.

Ross has a simple message. Savings banks will do nothing if mortgage-holders are not saved in the process. If the mortgage mess gets worse, banks will continue to have trouble over time, even if the Treasury does put $700 billion into the market.

Ross's comment was straight-forward. He told Reuters that "none of the recent actions to stabilize the financial system addressed the root of the problem -- helping Americans make their mortgage payments."

So, why is the government attacking the crisis from the wrong end of the system? The answer probably is that it is easier to save a small number of banks than it is to salvage hundreds of thousand of mortgages. Renegotiating all of those loans, resetting interest rates, and keeping some homes from foreclosure is simply too difficult a task. Many members of Congress do not view it that way. They want mortgage assistance programs added to the bailout bill.

Not matter what the level of challenge, the federal government has to give banks direct incentives to help the mortgage holder. Nothing can save the economy if hundreds of thousands of more home loans go into default. At that point, the real estate market could collapse and not recover for years.

The $700 billion rescue package would only be a drop in the bucket.

Douglas A. McIntyre is an editor at 247wallst.com.

A sage comment from Wilbur Ross originally appeared on BloggingStocks on Tue, 23 Sep 2008 09:45:00 EST. Please see our terms for use of feeds.

Lehman Brothers Holdings Inc.

Lehman jumps from the frying pan into the fire originally appeared on BloggingStocks on Tue, 19 Aug 2008 09:49:00 EST. Please see our terms for use of feeds.

"While most funds have been dumping stocks in India's sliding market, billionaire global investor George Soros has turned contrarian on India," says international expert Nick Vardy who now suggests "bottom fishing" in India.

In his Global Bull Market Alert, he explains, "One of the best ways to follow in his footsteps are by purchasing the WisdomTree India Earnings ETF (NYSE: EPI)."

"According to the Times of India, the Hungarian born Soros -- who since last August is again actively managing his famed Quantum fund -- recently went on a buying spree in India making investments valued at $140 million in a wide range of Indian companies.

"In many ways, Soros' call is a vintage contrarian bet. India has been one of the worst performers in the global markets this year.

"Institutional investors have pulled out more than $7 billion from Indian equities as the BSE Sensex crashed 7,400 points, or 35%, from its peak of 20,873 back on Jan. 8 amid concerns over a weak global markets, soaring global oil prices and spiraling inflation in India.

"Brokerages and investment banks are uniformly gloomy about India. Inflation has accelerated to just under 12%, a 13-year high. Industrial output in May 2008 rose 3.8%, the slowest in six years. Manufacturing growth slowed to 3.9% in May, while capital goods output growth slowed to 2.5% vs. a robust 22.4% last year.

Continue reading Bottom fishing in India: In the footsteps of George Soros

Bottom fishing in India: In the footsteps of George Soros originally appeared on BloggingStocks on Mon, 28 Jul 2008 13:00:00 EST. Please see our terms for use of feeds.

Warren Buffett has been pretty vocal about how bad the current downturn will be. The same holds true for billionaire money manager George Soros. He has even testified before Congress to make his concerns known.

Now, Eli Broad, one of the richest men in America, or anywhere else for that matter, says this is the worst economic period of his lifetime. Broad will be 80 soon.

Broad told Bloomberg,``This is worse than any recession we've had since World War II." He does not think the housing market will recover for years and sees a sharp rise in unemployment.

The "billionaire boys clubs" now seems to have formed a consensus, and almost all of it is based on the problems in the housing market. It home sales keep dropping, most of the equity people in the US have built over the last twenty years goes away. If some of these people lose jobs, defaults rise and the matter becomes worse.

You can bet against the very rich, but it is probably not a good idea. They did not become fabulously wealthy by being stupid.

Douglas A. McIntyre is an editor at 247wallst.com.

Another billionaire sees bad recession originally appeared on BloggingStocks on Tue, 01 Jul 2008 09:00:00 EST. Please see our terms for use of feeds.

Continue reading Media World: The most overexposed people in business media

Media World: The most overexposed people in business media originally appeared on BloggingStocks on Mon, 02 Jun 2008 15:48:00 EST. Please see our terms for use of feeds.

Hedge Fund guru George Soros warned over the weekend, in an interview with The Daily Telegraph, that " the crude oil market had been significantly affected by speculation." Because of all the speculators driving the price of crude higher and higher, Soros went on to say, "Speculation... is increasingly affecting the price, the price has this parabolic shape which is characteristic of bubbles."

While I tend to disagree with Soros when he predicts that we are headed for a very deep recession, I do think that there isn't much justification to $130+ per barrel of crude. After all, the continuing cry of increasing demand falls short, when the big consumers of oil, are experiencing slower economic growth. After the Olympics, I wouldn't be surprised to see Chinese growth take a sharp fall as well, as many of the public works projects come to an end.

I think that potentially, we will see crude oil fall back to the $50-60 per barrel level.

Aaron Katsman is Senior Portfolio Manager of the Israel Growth Portfolio, of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has no position in any stock mentioned, as of 5/27/08

Oil prices may ease after the Chinese Olypmics originally appeared on BloggingStocks on Tue, 27 May 2008 16:43:00 EST. Please see our terms for use of feeds.

Alan Greenspan gives an interview about every two weeks, and headlines appear saying what he thinks the odds are of a recession in the US. His most recent opinion, as he makes his book tours and speaking engagements, is that America is facing a downturn, but it will not be as bad as it could have been.

According to the FT, The former chairman of the Federal Reserve said: "I still believe there is a greater than 50 per cent probability of recession." He believes that housing holds the key to how bad things will get.

Greenspan joins Warren Buffett and George Soros as the famous financiers who enjoying visiting regularly with the press about the economy. None of them need the exposure to make money, so being in the paper must just make them feel important.

At least Greenspan's view of how things are going is not as dark as those of his peers.

Douglas A. McIntyre is an editor at 247wallst.com.

Greenspan: More 'talking head' opinion on recession originally appeared on BloggingStocks on Tue, 27 May 2008 04:06:00 EST. Please see our terms for use of feeds.

USA Today makes George Soros look pathetic originally appeared on BloggingStocks on Tue, 13 May 2008 16:43:00 EST. Please see our terms for use of feeds.

George Soros, the billionaire money manager, claims to be old and wise, and able to guess the market's turns better than most. Given the compensation he has collected on Wall Street over his lifetime, it is hard to quarrel with that.

Soros, who still manages several hedge funds, says that the U.S. is in a "bear market rally," according to The Wall Street Journal. Like many pundits, he stakes his claim primarily on the American housing market. If home prices keep up their sharp decline, how, he reasons, can the rest of the economy do well?

He may have a point. Much of what economists have said recently is based on a recession being avoided because consumer spending has slowed but not halted. People are still going to Wal-Mart (NYSE: WMT). Thank goodness for that.

But Soros and his intellectual allies look at a housing market that will continue to decline into 2009 and say that this must force a deeper and deeper downturn.

No one wants to believe Soros. The thought is too grim. But the logic is hard to dispute.

Douglas A. McIntyre is an editor at 247wallst.com and the author of the Ten Stocks Under $10 letter.

George Soros's dark vision originally appeared on BloggingStocks on Thu, 08 May 2008 10:31:00 EST. Please see our terms for use of feeds.

America touts itself as an egalitarian society. But the way we reward people suggests that while everyone has an equal chance to get rich, only about five people can make more than a billion in a year. The way these five people get there reveals what our society most values -- the ability to help people with huge amounts of money get much richer as quickly and consistently as possible.

Wednesday's New York Times listed those five most valuable players. Here are our society's biggest winners, where they work, how much they made in 2007, and how they won:

• John Paulson (Paulson & Co.) -- 2007 earnings: $3.7 billion. Beginning in 2005, Paulson made huge bets on the decline in value of securities backed by subprime mortgages
• George Soros (Soros Fund Management) -- 2007 earnings: $2.9 billion. Soros' $17 billion flagship Quantum Endowment fund racked up a 31.7% return in 2007, its best annual showing since the high-tech implosion at the start of this decade. Soros' $2.9 billion payday comes almost entirely from his personal stake in the fund (which he no longer manages). I don't know how he made that 31.7% return.
• James Simons (Renaissance Technology) -- 2007 earnings: $2.8 billion. Simons, a mathematician and former Defense Department code breaker, uses complex computer models to trade.

Continue reading Bringing home more than a billion in 2007: Five hedge fund managers rake it in

Bringing home more than a billion in 2007: Five hedge fund managers rake it in originally appeared on BloggingStocks on Fri, 18 Apr 2008 14:31:00 EST. Please see our terms for use of feeds.

It is hardly a surprise that a Wall Street Journal poll of economists finds them in a foul mood. Most believe that the financial troubles in the US will get much worse and that the housing market has yet to bottom.

According to the newspaper: "Three interrelated issues weighed on the economists' minds. When asked what the biggest downside risk to their forecast was, 35% said further deterioration in the credit markets, while 25% said it was a sharp drop in consumer spending and 13% said continued housing weakness."

The news raises the question of whether experts are "talking" the economy into a worse recession. Yesterday, George Soros said the current crisis could cost financial institutions almost $1 trillion worldwide. Just a few months ago, many experts thought the US would avoid a recession completely.

The question is a reasonable one. When the press and economists make repeated public comments on how bad things are does it causes consumers to buy less, worry more, and put more cash on the sideline?. No one knows, but given the psychology of fear no one should be surprised if the answer is "yes".

In a recession, fear feeds on fear and consumers can freeze their spending almost completely.

Douglas A. McIntyre is an editor at 247wallst.com.

WSJ economist poll show pessimism originally appeared on BloggingStocks on Fri, 11 Apr 2008 08:32:00 EST. Please see our terms for use of feeds.

Now that a number of banks and brokerages have taken large write-offs after assessments of the falling value of mortgage-backed and LBO debt, things are supposed to get better. Auditors have looked at the extent of the damage and the Fed is putting cash into the system to improve balance sheets.

But a lot of the smart money does not see it that way. The International Monetary Fund said that the total damage from the crisis will be $945 billion. That would mean that the housing market will get much worse along with defaults on corporate and consumer debt.

Now, in rides George Soros, iconic hedge-fund manager and a billionaire many times over. He says the credit crisis is only in its early stages. In a conversation with Bloomberg, he said, "This is a man-made crisis and it's made by this false belief that markets correct their own excesses. It will take much longer for the full effect of the decline in the housing market to be felt.'' In other words, hike up your pants and buy a boat. The flood waters are getting much higher.

No one knows whether the IMF or Soros is right. Comments from management at Morgan Stanley (NYSE: MS) and Merrill Lynch (NYSE: MER) seem to indicate that they see things getting better in the second half of this year.

Even so, we should pay attention to Soros's more pessimistic prediction. Those forecasting worse times are not idiots and need to be, at the very least, listened to carefully.

Douglas A. McIntyre is an editor at 247wallst.com.

Soros sees credit crisis getting worse originally appeared on BloggingStocks on Thu, 10 Apr 2008 09:43:00 EST. Please see our terms for use of feeds.