Soros Buys Coal

[Ben]

Coal stock that is. I find this interesting. Has he put his resources into helping demonize coal so that he could make a killing in the stock, or is he figuring on buying up large amounts of these dirt cheap shares to help finish these companies off?

http://www.foxnews.com/us/2015/08/18/billionaire-george-soros-warms-up-to-coal-as-stock-prices-hit-bottom/?intcmp=hpbt1

[Fly320s]

My bet is he just wants to make money.  Too much is never enough.

[brimic]

Money.
As much as he hates capitalism, he loves money more.

[Ben]

I would tend towards $$$ myself, though it would require kiboshing the Obama war on coal, at least long enough for a "good news" temporary bump in the stocks. Interestingly, Arch Coal was a $3500 stock in 2010. Today it's worth a buck fifty.

[230RN]

Winter's coming in the Northern Hemisphere.  He probably shifts his investments from north to south and vice-versa with the alternating seasons.

I'm no fan of his, but he didn't get to be a 10^9-aire by sitting around responding to market changes.

[SADShooter]

Maybe his black heart finally got too cold and he needs fuel for a hotter hearth fire.

[MechAg94]

Maybe he is banking on the R's winning the White House next year and reversing a lot of Obama's energy policies.

[freakazoid]

Is this a good sign to buy into coal?

[Ben]

Is this a good sign to buy into coal?

I'm actually researching it since that article came out. If I do, I'm considering it a Las Vegas style gamble. At a dollar-ish a share they're lower than they've ever been. They can certainly go lower if Obama and the EPA have their way, but any roadblocks to Obama's plans would certainly give them a little boost (probably temporary). It's not how I generally invest, and I would never consider it with more expensive stocks, but it's probably a better gamble than playing craps. 

[brimic]

I'm actually researching it since that article came out. If I do, I'm considering it a Las Vegas style gamble. At a dollar-ish a share they're lower than they've ever been. They can certainly go lower if Obama and the EPA have their way, but any roadblocks to Obama's plans would certainly give them a little boost (probably temporary). It's not how I generally invest, and I would never consider it with more expensive stocks, but it's probably a better gamble than playing craps. 

Oil indexes are very low too, though they aren't going to be going back up any time soon.

[Scout26]

Just as a point of interest, Japan recently fired up all the Nuke planets they shut down after Fukushima.  (IIRC, I think even Fukushima is being brought back online).  Seems that Japan was unable to produce enough electricity with hippie power.

One nice cold winter with brown outs and people freezing and coal will be all the rage once again.

[freakazoid]

Oil indexes are very low too, though they aren't going to be going back up any time soon.

Yeah. A while back I had bought some UCO stock. My friend got lucky and made some real good money but I have been holding onto it watching it fall, and fall, and fall. lol I'm holding on for the long term hoping it goes back up. It was a rather cheap before the 1:5 reverse split made it more expensive.

[MechAg94]

Just as a point of interest, Japan recently fired up all the Nuke planets they shut down after Fukushima.  (IIRC, I think even Fukushima is being brought back online).  Seems that Japan was unable to produce enough electricity with hippie power.

One nice cold winter with brown outs and people freezing and coal will be all the rage once again.

He may also be banking on that.  Earlier this year, people were predicting brown outs in the Northeast this Winter due to coal power plant restrictions.  If that were to happen, there would be a lot of pressure to undo any restrictions Obama and the EPA may have put in place. 

[Ben]

Anyway, looks like Soros made a cool million or so just on the pop today from the articles saying he bought the stocks.

[brimic]

Yeah. A while back I had bought some UCO stock. My friend got lucky and made some real good money but I have been holding onto it watching it fall, and fall, and fall. lol I'm holding on for the long term hoping it goes back up. It was a rather cheap before the 1:5 reverse split made it more expensive.

I made some quick money awhile back, then lost 1/2 my gains in about 2 days on an oil index.
I started reading up on what 'contango' (1) meant, and decided they weren't looking at until maybe this fall.

(1) earlier this spring, futures prices for the fall were considerably higher than the spot prices, which means it made more sense for oil companies to store the crude than sell it... as storage capacity fills, contango gets pushed out further unless the oil supply decreases- as in the case of oil drillers going bankrupt.

[grampster]

Soros buys bad stocks that go up when everyone hears Soros bought the stock.  Everyone buys the stock.  Stock goes up.  Soros sells the stock.  Rinse and repeat.

[Ben]

Soros buys bad stocks that go up when everyone hears Soros bought the stock.  Everyone buys the stock.  Stock goes up.  Soros sells the stock.  Rinse and repeat.

Well, one of them more than doubled in two days, so I guess it worked. 

[Monkeyleg]

Anyway, looks like Soros made a cool million or so just on the pop today from the articles saying he bought the stocks.

Warren Buffet used to trade silver a lot. Whenever he'd buy, I'd buy. I did well with silver that way.