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(Sydney Morning Herald)   News: One-percenter Soros makes 1$ billion bet against AUD, milks it for $19 million USD in profit. Wait, what?: Australia didn't go under   (smh.com.au) divider line 13
    More: Ironic, Australian dollar, George Soros, USD, Soros Fund Management, fund management, Reserve Bank, ANZ, British pound  
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848 clicks; posted to Business » on 08 May 2013 at 8:23 AM (49 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-05-08 08:29:43 AM
Oooooohhhhh..... 1.9% ROI.
 
2013-05-08 08:32:24 AM
It may go down as one of the great currency bets in Australian dollar history - a $US1 billion gamble on a Reserve Bank rate cut that has delivered a $US19 million ($18.65m) profit in 36 hours.

Sure the numbers are large and the nearly $60 billion he netted is a lot of money, but a ROI of less than 2% doesn't seem all that noteworthy.
 
2013-05-08 08:38:05 AM
SOROS THREAD!
 
2013-05-08 08:51:04 AM

Muta: Oooooohhhhh..... 1.9% ROI.


And the annualized ROI would be?
 
2013-05-08 08:53:25 AM

Target Builder: It may go down as one of the great currency bets in Australian dollar history - a $US1 billion gamble on a Reserve Bank rate cut that has delivered a $US19 million ($18.65m) profit in 36 hours.

Sure the numbers are large and the nearly $60 billion he netted is a lot of money, but a ROI of less than 2% doesn't seem all that noteworthy.


2% on $billion in 36 hours is noteworthy. It's a 486% annual rate of return.

This it what Soros does though. He did something similar to the British Pound, and Beck and his ilk like to say that he "broke the bank of England" doing it - like Soros was personally responsible, instead of just benefiting from inept monetary policy.
 
2013-05-08 09:01:26 AM
possessed by Mammon.
 
2013-05-08 09:32:24 AM
impaler:

2% on $billion in 36 hours is noteworthy. It's a 486% annual rate of return.

What percentage of stocks and currencies vary by 2% or more in any given 36 hour period?
 
2013-05-08 09:52:00 AM

Target Builder: impaler:

2% on $billion in 36 hours is noteworthy. It's a 486% annual rate of return.

What percentage of stocks and currencies vary by 2% or more in any given 36 hour period?


Currencies usually don't fluctuate that much, and they're about the only thing you can have a $billion worth of exposure where your own exposure doesn't significantly affect the price. That's why making 2% on $10,000 in 36 hours isn't the same as doing it with $billion.
 
2013-05-08 12:40:45 PM

Target Builder: impaler:

2% on $billion in 36 hours is noteworthy. It's a 486% annual rate of return.

What percentage of stocks and currencies vary by 2% or more in any given 36 hour period?


Currency isn't really a passive investment..
 
2013-05-08 09:16:00 PM
The A$ doesn't usually fluctuate that much, but he made his short sell the day before the Australian Reserve Bank released its monthly economic forecast and decided to cut the official cash rate to 2.75%; contrary to every economic forecaster locally who were predicting at least another month of wait and see from the bank. Teh cut was somewhat of a surprise, except to Mr Soros apparently who picked up 19M on the short sell. Funny thing is, the A$ rate in comparison to the US$ is almost back to the point before the announced rate cut.
Don't want to cast aspersions, but I personally find it funny that the only person tipping a rate cut and therefore exchange rate movement was Soros. Its like somebody tipped him the "nudge, nudge, wink, wink...say no more"

\that could just be jealousy cos I didn't have a billion to play with.
\\ still fishy
 
2013-05-08 10:07:41 PM
This is a reflection of what is wrong with the world economy and the US economy in particular.

Think about it. Money used to be a medium of exchange for units of work, a way people had of cooperating. I pay you for a loaf of bread you baked, you buy beer from me, and we both pay the farmer who grew the grain. Money is how such cooperative effort was organized. I'm no fan of Ayn Rand, but she was right about money in the sense that it reflected a moral system, at least when it was tied to an exchange of labor.

Now, money has no relation to labor at all. Governments make it out of thin air and bail out TBTF banks and corporations, who in turn loan it at interest to the workers and don't even hire workers with it because they can make more money by extorting cash from the masses. Think I'm wrong? Then buy a house for cash.

People like Soros can make vast amounts of profits simply by manipulating the system. It's not even gambling.
Is Soros going to use this money for any good end? Will a hungry child eat? I doubt it.

Ayn Rand would say this system is criminal, and God bless her stone cold little atheist heart, she'd be right.
 
2013-05-09 06:02:33 AM
All of you are just jealous that you didn't pull yourself up by your bootstraps and save your money every year so you'd have a billion dollars to make on an investment like this. If you just stopped wasting money on food and went dumpster diving instead, shaved with a pair of scissors, and didn't waste money on cable TV, you too could be as rich as Soros. If you managed to save only $10,000 of your $35,000 a year salary, you could do it in as little as 100,000 years.

Just think of all the jobs that his investment created. Why do you hate the job creators?
 
2013-05-09 07:15:26 AM
Pretty much you can do anything to anyone as long as you toss a few bucks to the left.encrypted-tbn2.gstatic.com

// Imagine the Farking outrage if Romney made this bet.
 
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