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"Soros Put" Rises To Record: Is The Billionaire Investor Betting On Market Crash?

Tyler Durden's picture




 

Back in February we observed, with some surprise, when Soros Fund Management, the investment vehicle of the famous Hungarian billionaire investor revealed in its Q4 13F that the firm had taken its bearish S&P 500 ETF - aka SPY - put exposure to a then record $1.3 billion notional, prompting us and many others to ask if Soros was preparing for a market crash. Fast forward to today when following the latest 13F disclosure from the same fund, we note, with double the surprise that a quarter after the same ETF put was lowered to "only" $299 million notional, Soros has once again increased his total SPY Put to a new record high of $2.2 billion, or nearly double the previous all time high, and a whopping 17% of his total AUM.

Some observations, which we presented previously: the "Soros put" is a legacy hedge position that the 84-year old has been rolling over every quarter since 2010. Since this was an increase of 638% Q/Q this has some people concerned that the author of 'reflexivity' and the founder of "open societies" may be anticipating some major market downside.

Furthermore, remember that what was disclosed yesterday is a snapshot of Soros' holdings as of 45 days ago. What he may or may not have done with his hedge since then is largely unknown, and since there are no investor letters, there is no way of knowing even on a leaked basis how the billionaire has since positioned for the market.

Then again, considering that not only Yellen, who has warned about bubble pockets in stocks, but the BIS, Icahn and numerous other fund managers, now openly warn that the entire market has entered bubble territory, perhaps this is a case where the simplest explanation is also the right one...

 

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Fri, 08/15/2014 - 11:00 | 5097576 alexcojones
alexcojones's picture

Soros - The Face of EVIL.

Betrayed his own Tribe, and Oddly

The Tribe does not disown him. Maybe their Modus Operandus

Fri, 08/15/2014 - 11:00 | 5097589 Headbanger
Headbanger's picture

Fuck yeah he is!

You think he hasn't seen shit like this in Ukraine before!!??

DUH!

Fri, 08/15/2014 - 11:42 | 5097903 Latina Lover
Latina Lover's picture

I wonder if this filthy cocksucker Soros knew  in advance that Russia would be provoked into a war by the Ukies, and went short.

Fri, 08/15/2014 - 11:56 | 5097987 Terminus C
Terminus C's picture

Sum ting wong with the X axis labels on that chart.  Dates go all funky...

Is Zerohedge following Statistics Canada in its statistical manipulations?

Fri, 08/15/2014 - 13:17 | 5098435 N2OJoe
N2OJoe's picture

The Man Who Broke the Bank of England betting on a market collapse?

naaaawwwww. It's not like he made his fortune betting on(and some say engineering) collapses of markets and/or currencies.

Fri, 08/15/2014 - 14:02 | 5098701 RaceToTheBottom
RaceToTheBottom's picture

Thar she blows!!!!!

Fri, 08/15/2014 - 16:05 | 5099378 gh0atrider
gh0atrider's picture

If Soros was really smart (like gh0atrider) he would own Bitcoinz.

Fri, 08/15/2014 - 16:09 | 5099395 SMG
SMG's picture

Yea nothing like owning something that can be stolen by hackers, or that can be wiped out in the opening EMP attack in WWIII.  It must be really valuable.

Fri, 08/15/2014 - 16:11 | 5099424 gh0atrider
gh0atrider's picture

How come my Bitcoins never get stolen?  Maybe becuase gh0atrider is smarter than you?

Fri, 08/15/2014 - 16:25 | 5099512 MillionDollarBogus_
MillionDollarBogus_'s picture

goat rider,

enough with the bitcoin, already...

Fri, 08/15/2014 - 16:29 | 5099529 gh0atrider
gh0atrider's picture

FoooQuuuu!

 

Never enough Bitcoin!  We do this all night long!!

Fri, 08/15/2014 - 16:53 | 5099675 Headbanger
Headbanger's picture

Just STFU fonerats!

Fri, 08/15/2014 - 18:31 | 5100045 SAT 800
SAT 800's picture

No one but an ignorant fool would imagine he had any means at his disposal to change the exchange rate of the British Pound; he observed what the facts were and bet his own money accordingly. The devaluation of the Pound was entirely due to the fiscal irresponsibility of the British Government; as it always is.

Fri, 08/15/2014 - 16:54 | 5099537 Kirk2NCC1701
Kirk2NCC1701's picture

I'd say that Soros is an "investor" only in a narrow, technical and legal sense. In practice, he's a Speculator and Master Manipulator.

His "investment" is not for the long run (a la Buffet) or any great or fundamental Belief in any company, but for pure enrichment of self -- regardless of the social Fallout of his market manipulations.

Fri, 08/15/2014 - 17:26 | 5099808 Flatchestynerdette
Flatchestynerdette's picture

@Kirk2NCC1701 - Soros rolling over that short position constantly since 2010 is losing him money. Now he's doubling down? Brussels (EU) won't pulll the plug on the swamp. Christie at IMF won't do it either. Yellen is all talk. Sure, Icahn can blather about tops and froth but until someone goes to flush the toilet tank and actually pushes the lever, Soros has basically parked his money in a Yugo that's depreciating every second. Maybe he needs the tax write off, not the 'investment'?

Fri, 08/15/2014 - 18:26 | 5100028 SAT 800
SAT 800's picture

Oh, right, you're smarter than he is. There's every reason to see and understand a market top that was ever seen before. I'll be shorting the S&P500 again, when I like the chart; I enjoyed the $13,200 I took out of my last short on it. It's the top of a Momentum market; or a bubble, or a speculative craze, or whatever you want to call it. I agree with him completely, and so will you; afterwards.

Fri, 08/15/2014 - 18:28 | 5100033 SAT 800
SAT 800's picture

Your comment is foolish nonsense. There is no "long run". All speculation is for self-enrichment, what did you think it was for? Everyone is a speculator; there are no investors; wake up and smell the coffee.

Fri, 08/15/2014 - 16:35 | 5099566 Duffy
Duffy's picture

or merely that ukraine would claim it.

Fri, 08/15/2014 - 11:15 | 5097707 DblAjent
DblAjent's picture

Who's to say he is not selling I-T-M calls to hedge his hedge for spread?

Fri, 08/15/2014 - 16:12 | 5099429 Say What Again
Say What Again's picture

Wow, just thinking about how to unwind that position hurts.

Did you know that Soros had a bad back and when his back started to hurt, he would start to unwind his positions.

 

Fri, 08/15/2014 - 16:17 | 5099457 Save_America1st
Save_America1st's picture

what?

Fri, 08/15/2014 - 16:39 | 5099592 ajax
ajax's picture

 

 

Jack Kennedy too.

Fri, 08/15/2014 - 11:22 | 5097767 Jack Sheet
Jack Sheet's picture

read the 5th paragraph down at this link

http://itccs.org/2014/08/08/statement-of-the-central-command-of-the-dire...

too weird/horrifying to be true- or is it?

Fri, 08/15/2014 - 11:55 | 5097983 john39
john39's picture

imho, that international common law court isn't real...  some kind of strange psy-op.  not that governments and churches are not filled with pedophiles.

Fri, 08/15/2014 - 12:09 | 5098077 dontgoforit
dontgoforit's picture

Hey, Jack - dont fall for this sheet.

Fri, 08/15/2014 - 16:09 | 5099406 sleigher
sleigher's picture

They just like letting us know they are drinking the blood of babies and raping kids.  Kind of like how they let us know they don't follow the laws or anything else.  They love to throw it in our faces because they KNOW we will do nothing.  

Not a psyop at all.  It is their entertainment.

Fri, 08/15/2014 - 16:36 | 5099572 Duffy
Duffy's picture

that website and the guy behind it are complete frauds.

Fri, 08/15/2014 - 18:50 | 5100107 sleigher
sleigher's picture

I am curious.  I have read some of that itccs and have sort followed it but not closely.  Why is it a fraud or bullshit?  I am not being crass or anything.  Just curious.  Is it not true that they found those mass graves?  Is it all lies?  Any info you can point me to?  

Fri, 08/15/2014 - 16:34 | 5099554 Raging Debate
Raging Debate's picture

Jack Sheet - Disinformation bullshit

Fri, 08/15/2014 - 13:06 | 5098375 rubiconsolutions
rubiconsolutions's picture

Code name for George Soros..."the Iron Condor"

Fri, 08/15/2014 - 13:33 | 5098563 Mojeaux18
Mojeaux18's picture

Fuck you. I disown him. Maybe you're a bigot.

Fri, 08/15/2014 - 16:05 | 5099379 SMG
SMG's picture

Soros is in the Luciferian Globalist Oligarch club.   He gets inside info, which really helps in becoming a successful investor.

Is not really Jewish.

Fri, 08/15/2014 - 10:58 | 5097579 kliguy38
kliguy38's picture

he doesn't "bet"

Fri, 08/15/2014 - 11:08 | 5097648 Dr. Richard Head
Dr. Richard Head's picture

Do we have the Soros Put chart during say 2008-2009?

Fri, 08/15/2014 - 11:18 | 5097737 kliguy38
kliguy38's picture

you don't think he might have been short Lehman or Bear or AIG or worse yet THE SnP??? hehhehehhehe.. I do know he was heavy into gold miners and GLD by late 2008 and made a killing on it....including a miner I invested in ANV....he got out of it all in 2012 EARLY

Fri, 08/15/2014 - 16:16 | 5099448 Dr. Richard Head
Dr. Richard Head's picture

As much as Cantor Futzgerald profitted off of 9/11?

Fri, 08/15/2014 - 10:59 | 5097583 fonzannoon
fonzannoon's picture

He bought a shit ton of AAPL and FB so take that into consideration...

Fri, 08/15/2014 - 11:00 | 5097594 Dr. Engali
Dr. Engali's picture

That's becoming one expensive hedge.They are only  warning about the bubble because they want to collect.

Fri, 08/15/2014 - 11:01 | 5097608 NotApplicable
NotApplicable's picture

My question is, "Who's the seller?"

Fri, 08/15/2014 - 11:00 | 5097602 STG5IVE
STG5IVE's picture

Again with the "Soros is God and he must know something is going to happen soon" garbage?  This guy puts millions down on put options, so even if it goes down just a small 5-10 percent, he's still going to come out smoking.  What the Hell is wrong with people?  Yep Soros is buying puts, so that means the "big one is coming".  Fools beget fools.

Fri, 08/15/2014 - 11:07 | 5097647 NotApplicable
NotApplicable's picture

Why would you think that Soros is God, when it's obvious to most everyone here, that his "genius" is predicated on being one of the ultimate insiders?

Why don't you stick to telling us your own opinions without creating the opinions of others? Is it that important that you have a strawman to attack? Do you think we don't notice your condescending attitude based upon false premises?

Your comment would be perfectly acceptable had you only dropped the first sentence. Instead, it's nothing but a childish dick move.

Fri, 08/15/2014 - 11:38 | 5097878 DeadFred
DeadFred's picture

So who is Soros? I've never figured out his position in the hierarchy. Is he a Rothschild minion, maybe a tool of some other faction of the cabal. Maybe he is on his own and heads his own section of the PTB. Does anyone have credible source material on him. I'm curious because it seems he was one of the puppet masters behind the Kenyan guy and I'd like to know who is pulling the strings. Just curious, I have no dog in this fight.

Fri, 08/15/2014 - 12:07 | 5098056 BKbroiler
BKbroiler's picture

he's your leftist boogie man.  booga booga booga

Fri, 08/15/2014 - 12:15 | 5098103 dontgoforit
dontgoforit's picture

You do have a dog in this fight - we all do.  Soros is a beast.  Check out his bio on wikopedia.  He's like the Dr. No, Dragos, Goldfinger, Kaiser Souza mix out to destroy empires.  That's why he and obanger are such buds.  obumma shares a similar philosophy, only coming from a different perspective. 

Fri, 08/15/2014 - 17:17 | 5099774 nosoeawe
nosoeawe's picture

So who is Soros? 

 

a fucking bloated hungarian criminal

 

the geriatric pile of horse shit just turned 84 on the 12.

 

party my pad when this ill-bred walking pile of shit dies.

 

i'm sure the grim reaper isn't far behind this creep

 

with any luck he has a stroke that paralizes his filthy lying pie hole and has to piss and shit in a bag (not talking about his whore of a mail order wife that too has lived way past her usefullness)

Fri, 08/15/2014 - 11:04 | 5097614 alexcojones
alexcojones's picture

I saw a Wall street documentary with lots of perps from the crash in 2008.

Big players. And SORE-Os was the only person interviewed who SMILED while being interviewed.

Sociopaths have NO consciences.

'Inside Job' Flays Greedy Creeps, D.C. Cowards For Misery
Fri, 08/15/2014 - 16:43 | 5099616 ajax
ajax's picture

 

 

Soros always smiles during interviews done in English because his English is still so bad - he's smiling at himself.

Fri, 08/15/2014 - 11:07 | 5097637 GFORCE
GFORCE's picture

Soros is hedging the possibility. As he increases profits through longs, he increases the hedge. Soros is a legend. 

Fri, 08/15/2014 - 11:15 | 5097703 Comte d'herblay
Comte d'herblay's picture

There's a difference between being a genuine legend and a fraud.

Soros made "a bet" on the fall of the British Pound a few years ago, and Viola!!   He was right.

And anyone who believes he didn't have Inside information that the Exchequer would do just that, is a fool. 

Fri, 08/15/2014 - 12:16 | 5098114 dontgoforit
dontgoforit's picture

"The Man Who (nearly) Broke the Bank of England" - I believe he made $1.2bn pounds on that.

Fri, 08/15/2014 - 13:13 | 5098417 Comte d'herblay
Comte d'herblay's picture

Yes he did, and he didn't do it on a bet.  

 

 

Fri, 08/15/2014 - 11:08 | 5097652 nope-1004
nope-1004's picture

Another high stakes gambler.  Don't care what he gambles on.  But would be interested to read about the guy if he produced something that somehow helped his common man.  "Till then, he's just a gambling low life with no real job in my eyes.

 

Fri, 08/15/2014 - 11:42 | 5097792 Laughinggrizzley
Laughinggrizzley's picture

But, he take all that money, and sponsors bath house community organizers to implement his agenda. And it isn't about helping his common man, it's about control

Fri, 08/15/2014 - 12:14 | 5098098 kchrisc
kchrisc's picture

Here he is helping his "fellow man.":

KROFT: My understanding is that you went out with this protector of yours who swore that you were his adopted godson.

Mr. SOROS: Yes. Yes.

KROFT: Went out, in fact, and helped in the confiscation of property from the Jews.

Mr. SOROS: Yes. That's right. Yes.

KROFT: I mean, that's -- that sounds like an experience that would send lots of people to the psychiatric couch for many, many years. Was it difficult?

Mr. SOROS: Not -- not at all. Not at all. Maybe as a child you don't -- you don't see the connection. But it was -- it created no -- no problem at all.

KROFT: No feeling of guilt?

Mr. SOROS: No.

 

http://message.snopes.com/showthread.php?t=43876

Fri, 08/15/2014 - 17:15 | 5099767 ajax
ajax's picture

 

 

Soros Foundation/Open Society:

http://www.opensocietyfoundations.org/expenditures

Fri, 08/15/2014 - 11:13 | 5097693 Bankster Kibble
Bankster Kibble's picture

How convenient for Soros that Russia seems to be invading Ukraine ATM.  Unless it is all revealed as just another false flag episode in the ongoing kabuki, in which case he might want to exercise his options quickly.

Fri, 08/15/2014 - 11:16 | 5097711 viator
viator's picture

Perfect timing...

Fri, 08/15/2014 - 11:16 | 5097722 fonzannoon
fonzannoon's picture

did everyone btfd?

Fri, 08/15/2014 - 11:16 | 5097724 Lmo Mutton
Lmo Mutton's picture

So.  This is bullish?  Right?

Fri, 08/15/2014 - 11:39 | 5097881 WarPony
WarPony's picture

It dipped, he scored, now the BTFD is working.  Seems Ukies are "priced in" at least for the time being.

Fri, 08/15/2014 - 11:40 | 5097892 The Fonz...befo...
The Fonz...before shark jump's picture

It's so easy to trade when you have access to the playbook....good luck trying to control and manip the correction...gravity always wins

Fri, 08/15/2014 - 12:11 | 5098086 kchrisc
kchrisc's picture

"Soros Put" Rises To Record: Is The Billionaire Investor Betting On Market Crash?"

A Rothschild insider "bets" on nothing--They KNOW.

An American, not US subject.

 

Not all "dualies" are pickups.

Fri, 08/15/2014 - 12:12 | 5098091 buzzsaw99
buzzsaw99's picture

soros, icahn, et al, would be running around screaming bubble if yellen wasn't tapering.

Fri, 08/15/2014 - 12:29 | 5098186 besnook
besnook's picture

pat myself on the back. called the setup. btfd!

Fri, 08/15/2014 - 13:16 | 5098442 Comte d'herblay
Comte d'herblay's picture

Come on!   This has been going on for 5 years and you just did it???

Fri, 08/15/2014 - 13:36 | 5098577 besnook
besnook's picture

the rest were ordinary dips, easy to see. this was the most predicted correction in the history of the market and it has been outed as a setup which should turn it around now that it has been exposed as a con.

Fri, 08/15/2014 - 13:07 | 5098379 Quinvarius
Quinvarius's picture

He is going to have to hock his Spear of Destiny if his losses keep mounting.  But he is right.  This thing is about to give it all back with QE winding down.

Fri, 08/15/2014 - 13:41 | 5098605 Australian Economist
Australian Economist's picture

Soros is buying Gold Miners: http://www.cnbc.com/id/101921547

 

What does he know that we don't?

Fri, 08/15/2014 - 14:29 | 5098834 divide_by_zero
divide_by_zero's picture

Is Soros betting on it? He doesn't bet, he manipulates and doing a damn good job. Brought his private Blackstone army in to help his oligrach buddy Kolomoisky and topple previous regime(coordinated with State Dept of course). This is about the 8th time in 5 years he's done similar, lots more going back to Clinton years.

Fri, 08/15/2014 - 16:28 | 5099500 agmand
agmand's picture

At the time of his birth, Soros was a citizen of Hungary.

That was decades ago.

Today, he is a citizen of the US.

As far as nationality, he is Jewish.

Just out of curiosity, when should we start referring to him as the US, or Jewish bilionaire?

 

Fri, 08/15/2014 - 16:41 | 5099600 Raging Debate
Raging Debate's picture

Soros was one of the only billionaires to publically state in 2008 the TBTF banks should be broken up and liquidated. Kind of difficult to say he is part of the global oligarchy. I see no CFR membership either. Some of you people here are a bit twacked.

Fri, 08/15/2014 - 17:04 | 5099723 ajax
ajax's picture

 

 

+ 1000 Raging Debate. I'd rather spend a day with Soros than a day with Buffett and I'd most certainly rather dine with Soros.

Fri, 08/15/2014 - 22:50 | 5100917 DarthVaderMentor
DarthVaderMentor's picture

If I dined with either one I'd want to make sure the food made it to my stomach before it was stolen......

Fri, 08/15/2014 - 20:12 | 5100416 razorthin
razorthin's picture

What are you all complaining about??  This maker of markets who speaks the truth about the Fed is about to topple it.  We should all rejoice!

Fri, 08/15/2014 - 22:01 | 5100691 knowshitsurelock
knowshitsurelock's picture

You mean that pedophilic child molesting hedonistic murdering narcissistic tyrannical ritualistic child blood sacrificing self aggrandizing manipulative decadent secret society cabalistic insider globalist oligarchic mother fucking alien reptilian low life scum sucking bottom feeder George Soros?

Is that who were talking about?

 

Sat, 08/16/2014 - 17:05 | 5102952 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Yeah, he's a gypsy! Gyp, Gyp, Gyp...

Sun, 08/17/2014 - 08:46 | 5104637 AdvancingTime
AdvancingTime's picture

 Predicting the future is an impossible task, a fools errand, full of pitfalls. Still we listen and soak in all that is said, we even spend a tremendous amount of money to gain an edge in knowing what maybe just around the corner. If you step back ten years in your mind, I suspect that things have not unfolded as you might have predicted.

When you see how the world has developed, the twist and turns are most unpredictable. Nowhere is this more apparent then in the economy, whether it is in the areas of interest rates and inflation or the rise and fall of companies. Surprise and awe, highlighted with bouts of shock is what we should expect going forward. I should add if you do listen to people who make predictions follow the people that tend to be right. More on this subject in the article below.

http://brucewilds.blogspot.com/2013/06/predicting-future-and-hindsight-m...

 

Do NOT follow this link or you will be banned from the site!