Soros turns into Mega-Bear?

[Zorrofan]

Is George turning into a mega bear??

 

http://www.zerohedge.com/news/2014-08-15/soros-put-rises-record-billionaire-investor-betting-market-crash

 

and this is somewhat surprisingly severe drop.....

 

http://www.zerohedge.com/news/2014-08-15/chinese-power-consumption-crashes-lowest-growth-16-months-tumbles-10-shanghai-much-2

 

cheers

Zorro

[T-bone1]

If you read Soros' 13F, he has hedged about 17% of his portfolio with puts on the S&P. . .  this probably cost less than 1% of the portfolio.

 

13F filings always report the notional value, which confuses people (see some past SHLD 13F filings). 

 

Soros also held calls on the S&P with a notional value of 5% of his portfolio.  It looks like he is basically hedging and betting on more volatility.

 

Another way to look at this is that he is going to "keep dancing" like Drunkenmiller said he was going to do in his last interview ("the difference is I can get out... the central bank can't")

 

Have a good weekend.