Soros doubles a bearish bet on the S&P 500, to the tune of $1.3 billion

It’s relatively easy to portray yourself as a savvy and sucessful investor as well as being a ‘philantrophist’ when you bankroll the Presidency, have inside connections to the largest businesses in the world and enough money to almost destroy entire currencies such as the British Pound.

Soros Fund Management has doubled up a bet that the S&P 500  is headed for a fall.

Within Friday’s 13F filings news was the revelation that the firm, founded by legendary investor George Soros, increased a put position on the S&P 500 ETF by a whopping 154% in the fourth quarter, compared with the third. (A put or short position basically gives the owner the right to sell a security at a set price for a limited time, and in making such a bet, an investor generally believes the security is going to decline.) Continue reading