Skip to main content

Davos: George Soros on pound, bad bank

When you look at the Bloomberg home page and see an image of George Soros sitting on a snow covered hill in a winter coat, you know that the Davos circus is in full swing.

Soros talked to Bloomberg about the US' plans for a "bad bank", which he says won't increase bank lending (but "will bring some relief"), and how the falling price of oil will affect the major oil-producing nations (Venezuela, Russia, and Iran) and their regimes.

Soros also spoke about the British pound at Davos, saying that he had foreseen the fall in the UK's currency, but that he is no longer short the pound at these levels.

Hedge fund manager Peter Thiel, who apparently is also at Davos, disagrees with Soros. He thinks the British pound will continue to decline this year, while the US dollar and the yen appreciate.

Thiel seems to be echoing Jim Rogers' gloomy view on the currency and the UK as a whole, calling the country, "the worst country in the world at this point". Damn Peter, worse than Zimbabwe?

Related articles and posts:

1. Bad Bank of America - Breakingviews.com.

2. Soros stopped betting against pound - Bloomberg.

3. FT video: Davos 2009 - FT.com.

Popular posts from this blog

The Dot-Com Bubble in 1 Chart: InfoSpace

With all the recent talk of a new bubble in the making, thanks in part to the Yellen Fed's continued easy money stance, I thought it'd be instructive to revisit our previous stock market bubble - in one quick chart.

So here's what a real stock market bubble looks like. 

Here's what a bubble *really* looks like. InfoSpace in 1999-2001. $QQQ$BCORpic.twitter.com/xjsMk433H7
— David Shvartsman (@FinanceTrends) February 24, 2015
For those of you who are a little too young to recall it, this is a chart of InfoSpace at the height of the Nasdaq dot-com bubble in 1999-2001. This fallen angel soared to fantastic heights only to plummet back down to earth as the bubble, and InfoSpace's shady business plan, turned to rubble.

As detailed in our post, "Round trip stocks: Momentum booms and busts", InfoSpace rocketed from under $100 a share to over $1,300 a share in less than six months. 

In a pattern common to many parabolic shooting stars, the stock soon peaked and began a…

New! Finance Trends now at FinanceTrendsLetter.com

Update for our readers: Finance Trends has a new URL! 

Please bookmark our new web address at Financetrendsletter.com

Readers sticking with RSS updates should point your feed readers to our new Finance Trends feedburner.  



Thank you to all of our loyal readers who have been with us since the early days. Exciting stuff to come in the weeks ahead!

As a quick reminder, you can subscribe to our free email list to receive the Finance Trends Newsletter. You'll receive email updates about once every 4-8 weeks (about 2-3 times per quarter). 

Stay up to date with our real-time insights and updates on Twitter.

Moneyball: How the Red Sox Win Championships

Welcome, readers. To get the first look at brand new posts (like the following piece) and to receive our exclusive email list updates, please subscribe to the Finance Trends Newsletter.

The Boston Red Sox won their fourth World Series titleof the 21st century this week.

Having won their first Series in 86 years back in 2004, the last decade-plus has marked a very strong return to form for one of baseball's oldest big league clubs. So how did they do it?

Quick background: in late 2002, team owner and hedge fund manager,John W. Henry(with his partners)bought the Boston Red Sox and its historic Fenway Park for a reported sum of $695 million.

Henry and Co. quickly set out to find their ideal General Manager (GM) to help turn around their newly acquired, ailing ship.

This brings us to one of my favorite scenes from the 2011 film, Moneyball, in which John W. Henry (played by Arliss Howard) attempts to woo Oakland A's GM Billy Beane (Brad Pitt) over to Boston with an excellent job off…