Soros to Quit Hedge Fund and Return Cash to Investors
- Posted on July 26, 2011 at 9:57am by
Jonathon M. Seidl
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Bloomberg is reporting some interesting news regarding George Soros: he’s quitting.
The outlet says that the liberal billionaire financier is dissolving the non-family aspect of his hedge fund that put him on the monetary map:
[T]he billionaire best known for breaking the Bank of England, is returning money to outside investors in his $25.5 billion firm [and is] ending a career as hedge-fund manager that spanned more than four decades.
Soros, who turns 81 next month, will hand back the money, less than $1 billion, by the end of the year, according to two people briefed on the matter. His firm will focus on managing assets solely for Soros and his family, according to a letter to investors. Keith Anderson, 51, chief investment officer since February 2008, is leaving, said the letter, signed by Soros’s sons Jonathan and Robert, who are co-deputy chairmen.
The news raises a plethora of questions — mainly, why? According to Bloomberg, the family didn’t want to adhere to SEC reporting mandates that would have forced the fund to divulge information about its investors:
Soros’s sons said they took the decision because new financial regulations would have made it necessary for the firm to register with the Securities and Exchange Commission by March 2012 if it continued to manage money for outsiders. [...]
The rule calls for hedge funds with more than $150 million in assets to report information about their investors and employees, the assets they manage, potential conflicts of interest and their activities outside of fund advising. Registered funds will also be subject to periodic inspections by the SEC.
“We have relied until now on other exemptions from registration which allowed outside shareholders whose interests aligned with those of the family investors to remain invested in Quantum,” the executives said in the letter to executives, referring to its flagship Quantum Endowment Fund. “As those other exemptions are no longer available under the new regulations, Soros Fund Management will now complete the transition to a family office that it began eleven years ago.”
Still, there are plenty more questions. Is Sors wanting to concentrate on his politically-charged donations? Why just over a year from the election? Does this mark his formal transition from businessman to political activist?
The country might be wise to remember a phrase oft-repeated by Glenn Beck: “Watch the other hand.”
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Comments (183)
Noonien_Soong
Posted on July 26, 2011 at 10:24amPerhaps ole George is feeling he needs to hide more of his assets with the hint that there is a move to abscond his money in the changing political climate. His game is coming undone.
Report Post »red_white_blue2
Posted on July 26, 2011 at 12:34pmand congrats if it is coming undone!
Report Post »VegasGuy
Posted on July 26, 2011 at 1:11pm@NOONIEN_SOONG,
Report Post »Or perhaps the Soros’ hedge fund major investors are anti-America countries that will benefit from the demise of America and he is protecting their identity? In other words, Soros has been instrumental in planned financial warfare against America.
Disnylv
Posted on July 26, 2011 at 2:04pmOld Georgie porgie needs to crawl back into his hole along with his millions
Report Post »Marci
Posted on July 26, 2011 at 2:05pmHe has to have more time to devote to collapsing the U.S. and getting his puppet Obama re-elected. That and the divulging of investors!
Report Post »BSdetector
Posted on July 26, 2011 at 2:05pmWait, so Georgie boy doesn’t want HIS wealth redistributed???
Report Post »getalong
Posted on July 26, 2011 at 2:06pmWhen this man is finally dead and buried, his only legacy will be that he sold out his own relatives and neighbors to concentration camps.
Report Post »1TrueOne55
Posted on July 26, 2011 at 3:23pmAlso closely read the article. Soros is only returning their “Investments” not any of their “Dividends”. His fund had 25 Billion under his control and he is only returning 1 Billion to US investors His Hedge Fund Activities will continue some where else in the World, how about Davos, Switzerland the Financial Capitol of the World Markets.
He has a scheme and he is pulling the trigger but he has to make sure that his fund is not affected by the fallout.
Report Post »junior1971
Posted on July 26, 2011 at 5:09pmspookie dude is looking a little under the weather, perhaps he should consult a physician?:):):):)
Report Post »ILFarmer
Posted on July 27, 2011 at 2:10amHe’s an intelligent person. my thinking is, is that he’s done what he came to do and all the pieces are in motion to carry out his plan. This isn’t something to celebrate when it happens out of the blue. He has a plan, we just don’t know it yet.
Keep your defenses up with this guy. it’s not over yet.
Report Post »Hollywood
Posted on July 27, 2011 at 1:35pmI would prefer SPOOKY DUDE meet his mentor-SATAN,personally!
Report Post »@ Coyote2
Posted on July 28, 2011 at 10:39amHe makes it sound good but what he’s “giving back” will only be a drop in the ocean compared to what he keeps. And remember it wasn’t his money to start with.
Report Post »Susan Harkins
Posted on July 28, 2011 at 5:44pmJust like Ole George ‘The Roach’ Soros, to “cut and run” when he knows that the kitchen light is going to be turned on him.
Report Post »its_time_to_arrest_our_government
Posted on July 29, 2011 at 8:50amwe the american people are coming for you soros all your money will do you no good there is no place on this earth we cant get to you. and your money needs to be confiscated. i see a rope in your future…
Report Post »Ken
Posted on July 26, 2011 at 10:24amHe‘s joining Obummer’s campaign…I’m almost sure of it! Or he’s covertly funding Obummer! Sorry Georgie, but it’s the “message” that get’s one re-elected, and not the $!!!
Report Post »SheriS
Posted on July 26, 2011 at 12:25pmSoros is the the one who put Obama in office–he bought and paid for him and some say Soros sends the orders daily to Obama! Don’t know how true, but sure sounds like something Soros would do. Then you have the fact that many believe Soros is responsible for the downturn in the economy since he bankrupted several European countries several years ago! He owns the liberals and the party–they do nothing without Soros orders or okays! This is a vile, disgusting man and is trying to do to us what he did in Europe!
Report Post »Mil-Dot
Posted on July 26, 2011 at 5:46pmThe dude is about ready to croak people. I mean, look at the guy. He is done. What? Did you think he was Zeus or something? ha..We all have go to the Maker naked and alone, and with no possesions. He is no different.
Report Post »Caniac Steve
Posted on July 26, 2011 at 10:55pmit just proves that old george doesn’t want to have to follow the same rules as everyone else will have to..gee sounds alot like members of Both Houses of Congress huh ? And we know how for the last 112 years both houses have screwed over the american people…so when do we, the people stand up in revolt and throw all of the bums that make 535 members of both house out on their butts? Compromise that folks…
Report Post »newhickschick
Posted on July 26, 2011 at 10:24amJust wishing there might be one employee with enough guts to leak that client list out on the net. One can dream.
Report Post »dmerwin
Posted on July 26, 2011 at 10:31amRight, let that wikileak guy out on a day pass.
Report Post »bccrane
Posted on July 26, 2011 at 11:32amIf you read the article the new rules say that the list of investors needs to be released, so to avoid this he will disolve the fund to hide what actually happened 2007-2008 that he had a part in to get Obama elected, the running up of oil prices and the economy dumping.
Report Post »1TrueOne55
Posted on July 26, 2011 at 12:24pmYou can bet that there are a lot of Progressive Politicians on that list and Organizations that would create a scandal for the Democratic Party. And until this President is either impeached or voted out of Office we will never find out that information. But I feel that this is also a signal to other investors that Soros is betting on the fall of the US Dollar. This is just a hidden signal to make a run on the Dollar to weaken its standing in the World Financial Markets, remember it is Soros’ personal mission to take down the last bastion of Free Market Principals. Removing outside investors makes it more likely that the “Soros” family will be the only benefactors of that strategy, or in other words “I AIN’T SHARING”. He could be ready to make Trillions on this take down.
Report Post »ap_news_guy
Posted on July 26, 2011 at 10:21amIt would have been interesting to see where all that money was going, SEIU, Pakistan, Egypt, Libya, Iraq, Afghanistan, Code Pink, etc. etc.
Now we will never know. But we clear enough picture to know what kind of a skunk he is.
Report Post »1TrueOne55
Posted on July 26, 2011 at 3:28pmIf you live long enough you will know. Because God said that in the Gospels that the Evil you do in the dark will be exposed by the light and the light is coming.
Report Post »Servant Of YHVH
Posted on July 26, 2011 at 10:21amUh oh, I wonder what’s going to happen to obama now? It looks like him and his anti-business policy has turned around and bit soros on the butt. I wouldn‘t be surprised if soros doesn’t like that. Maybe we won’t have to deal with obama much longer.
Report Post »walkwithme1966
Posted on July 26, 2011 at 9:38pmHey, maybe Soros is just tired – he is 81 years old – he has other investments. Why make something out of this when there just may be nothing there?? http://wp.me/pYLB7-1cO
Report Post »Rillobymorning
Posted on July 26, 2011 at 10:20amDid anyone doubt that Obama couldn’t have quoted $1 billion in campaign funds without knowledge of where it would come from?
Report Post »SpankDaMonkey
Posted on July 26, 2011 at 10:18am.
The U.S. Dollar has been destroyed. It won‘t be long now before reality set’s in.
To all of you who suffered from White Guilt in the last election. GFYS!!!…..
Report Post »pmacres
Posted on July 26, 2011 at 2:40pmexactly!!! all the people that said hope and change! well you got hope and change,,,you got chicago style fu politics,,,they lie cheat and steal and demonize anyone in there way,,,
Report Post »hey i own a corporate jet,,i love it,,
Hollywood
Posted on July 27, 2011 at 1:51pmWhy do people complain so much about Barry??? He promised Hope and Change,did he not? So far, he has,at least, turned U.S.$ bills into change[My perspective as a Canuck]. The HOPE part is harder to quantify!
Report Post »Hollywood
Posted on July 27, 2011 at 1:53pmYOU are absolutely incorrect. He has not destroyed the $. He is still in the process. Can you still buy something with them? I get your longer term point though!
Report Post »Exrepublisheep
Posted on July 26, 2011 at 10:17amSoros/Murdoch. 2 foreign people interested only in American money.
Report Post »NHwinter
Posted on July 26, 2011 at 1:46pmDon’t lump Murdoch with Soros. One is evil (Soros), Murdoch is trying to get the conservative message out. Remember only 1% of his business was with the British paper. That’s like comparing light to dark.
Report Post »LVGUY
Posted on July 26, 2011 at 1:56pm2 CFR members interested in Globalization
Report Post »Lucy Larue
Posted on July 26, 2011 at 3:48pmEXREPUBLISHEEP,
Report Post »Yeah twit….,you’re quite the thinker.
Yes…,Murdoch has a lot of money. Soros does too.
That is the ONLY commonality.
Murdoch has a conscience and abides by a code of ethics. Murdoch operates on the side of GOOD.. Soros has no morals,scruples OR ethics.he does not just OPERATE on the side of evil….,he is EVIL PERSONIFIED!
Twits like you EXREPULISHEEP abet the success of EVIL!
Afungi
Posted on July 26, 2011 at 10:16amHe and his family have enough funds to rock the world. The world is teetering, now he is free to do the dirty deed. He has no worry about the SEC and a paper trail to follow to his crime. He broke the bank of England. I guess we will see if the world is not enough.
Report Post »USACommoner
Posted on July 26, 2011 at 10:14amHmmmm. Wonder what’s up…? Billionaires just don’t “quit”…he is protecting someone, and it’s someone big.
Report Post »Jabber
Posted on July 26, 2011 at 12:17pmHe’s protecting himself and his soon to be former investors. It isn’t someONE big…it’s someTHING big.
Report Post »Chuck Stein
Posted on July 26, 2011 at 12:32pmHe really isn’t quitting, though. Just dropping 4% of the invested money so that he can avoid the SEC requirements imposed by his own people.
Report Post »Hollywood
Posted on July 27, 2011 at 1:59pmSoros,as I saw him say on a BBC interview,believes he is a GOD! He IS! He is a God of this world,but his mentor is a more powerful one. I’ll leave it up to people to figure this out!
Report Post »Hollywood
Posted on July 27, 2011 at 2:08pmSome billionaires do quit,and turn over their companies. Course the QUITTING part is usually DEATH! In Spooky Dudes’ case,since he believes he is a GOD, he may think he can buy his way out of this reality!
Report Post »smokeysmoke
Posted on July 26, 2011 at 10:13amTHERE IS OBAMAS 1 BILLION, i knew he would find it somehow
Report Post »SavingtheRepublic.com
Posted on July 26, 2011 at 10:10am^____^____^
Soooooo is he really getting out b/c of the damage he has done he is positioned perfectly to cash in? The man loves money he came out of retirement a few yrs ago didnt he? Regs to divulge info huh! Interesting more like he doesnt want ppl to know what he is really up to and who jumped on board his machine of nation economic destruction he is 4 for 4 on!
With our debt default on the horizon and this guy bailing makes one think he is up to something big and that is why he wants out. He doesnt want anyone to know what he is up to IMO. Congress are you listening? This man, this US citizen has a history of making moves with bad results for everyone else but great for him he needs a formal investigation initiated. IMO Soros is an enemy of the state. http://SavingtheReppublic.com
Report Post »1TrueOne55
Posted on July 26, 2011 at 12:31pmI bet that if he rescinds his US Citizenship then you know for sure that something is up. Especially if he moves to a Villa in Davos.
Report Post »Snowleopard {gallery of cat folks}
Posted on July 26, 2011 at 10:10amOkay, the changes are coming shortly, and with power — Soros and his sons are bailing out early and getting ready for the new paradigm coming in the regulations of 2012 they speak of. Watch out America for the first massive shock waves are soon to hit the shores, and hopefully we will still have a foundation on secured bedrock and not on sand or soft stone.
Report Post »http://artinphoenix.com/gallery/grimm (cat folk art)
noline
Posted on July 26, 2011 at 10:08amHe’s just moving to Egyptian or Gaza markets that he owns due to his Arab spring involvement. No regulations for him there.
Report Post »dmerwin
Posted on July 26, 2011 at 10:31amNoline has a good point here that doesn’t only apply to financial businesses but manufacturing as well. Our jobs move to countries where labor is cheaper and there are no pesky regulations to follow. Kyoto or any other global warming treaties only serve to move heavy industry to “emerging” nations like China (?) and India (?), both of which say they will not follow any treaty that interferes with their economy. I do not see how our leaders and European leaders fail to grasp this.
Report Post »sWampy
Posted on July 26, 2011 at 10:05amI wish the tyranny this family has brought to the world could suddenly end.
Report Post »SamIamTwo
Posted on July 26, 2011 at 10:05amThis guy lies more than carter’s little liver pills. Giving back less than 1B won’t take care of his problems.
Report Post »JCoolman
Posted on July 26, 2011 at 10:04amWhat’s the other hand doing?
Report Post »scjeff
Posted on July 26, 2011 at 10:18amIt is working Obama’s mouth.
Report Post »harumph
Posted on July 26, 2011 at 2:36pmAnd guess how.
Report Post »Inlandmar2
Posted on July 26, 2011 at 10:04amWell, George… It looks like those who you support have turned around to bite you in the butt.
Report Post »How’s that hope and change working for you?
saranda
Posted on July 26, 2011 at 10:26amIt is pretty clear you did not understand the article. He is returning the only non-family funds from his hedgefund to the investors which is apparently about $1 billion out of a $25 billion + hedgefund because he will now be able to operate as he and all hedgefunds have for years. The SEC is attempting to finally oversee hedgefunds but they left a loophole. By managing only family money Soros is able to operate outside the scope of the SEC. Pretty smart in my book and the same is being done by hundreds of fund managers as they skirt the SEC new regs. Only Soros is being named by the Blaze due to GB’s obsession with the man.
Report Post »Walkabout
Posted on July 26, 2011 at 4:17pmYes, but Soros is on the radar because he funds so many rascals. One world government? Sure. but not on his time table. Some things shouldn’t be rushed. Plebiscites should conducted and not like the ones in Europe pressuring people like the Euro did. The pushed a plebiscite every year until the people said yes and now everything is crumbling.
Report Post »Moveon,org is such a nice organization defending a group of people like Clinton, Gore, Edwards, .
Hollywood
Posted on July 27, 2011 at 2:02pmSOROS,BARRY,REID,PELOSI still all in bed together. Mental pic here? Oh crap! SORRY
Report Post »Thatsitivehadenough
Posted on July 26, 2011 at 10:03amHmmmmmmm…maybe Ulsterman will have more on this? Maybe Soros is going to devote himself to getting another puppet into the white house? Hillary?
Report Post »USACommoner
Posted on July 26, 2011 at 10:16amI suspect she’s more than just his puppet…which is why she didn’t much care about Monica.
Report Post »teddie888
Posted on July 26, 2011 at 10:36amI agree, Hillary will run and she is a huge socialist…remember HillaryCare?
Report Post »702bdr
Posted on July 26, 2011 at 10:03amWhy hasn’t anyone every charged George Soros with a crime?
Report Post »Jabber
Posted on July 26, 2011 at 12:20pmBecause he OWNS everyone who could possibly produce evidence that he has committed a crime.
Report Post »TruthSpeaker
Posted on July 26, 2011 at 7:33pmhe has been tried and convicted – somewhere in Europe. Guess I will have to get back with ya on where and when
Report Post »Stopit
Posted on July 26, 2011 at 11:36pmI remember seeing he has arrest warrants out for him in France.
Report Post »Hollywood
Posted on July 27, 2011 at 1:56pmSURE wish he would visit Thailand. They would LOVE to see him!!
Report Post »wtc101
Posted on July 26, 2011 at 10:03amFeeling guilty?
Report Post »BIGJAYINPA
Posted on July 26, 2011 at 10:02amNow what?? If “Spooky Dude” is involved, something bad is going on. I don’t trust this toad, not one little bit. If there is any luck/justice in this world he will soon have to stand before the Judgement Seat and answer for his actions….Just sayin’
Report Post »teddie888
Posted on July 26, 2011 at 10:37amOMG he has spawned 2 sons to carry on
Report Post »travlman77
Posted on July 26, 2011 at 10:02amSomething is a foot!
Report Post »dsm
Posted on July 26, 2011 at 10:02amI‘m sure Soros doesn’t want to reveal info about investors and employees. Can you imagine all the ties that would be exposed.
Report Post »saranda
Posted on July 27, 2011 at 10:15amFind me a hedge fund that is happy about the new disclosures. This return of capital and profit to investors who are non family is happening all over the hedge fund universe due to the new regs. With his track record who would not want to have had money with Soros fund? Do you think everything you have invested in is crystal clean…..no third world manufacturing, no child labour, no offshore banking, no bribing government officials or suppliers.
Report Post »dinadp
Posted on July 26, 2011 at 9:59amI wish Soros would retire from life.
Report Post »jacobstroubles
Posted on July 26, 2011 at 10:11amWell, that is likley the sentiment of many. He is a disgustig old vile man. He has destroyed the lives of many, and left a wake of destruction to boot. Oh sure, he’s make a few people filthy rich (including himself) but he did it at the expsense of many. This sudden sell off and leaving has a deeper/hidden agenda. He‘s neck deep in what’s been happening in our economy and is the financial backer of the vile and disgusting progressive/marxist movement & media. However, I would not worry to much about any of this now, as the antichrist is about to revealed. The conncetion to him and who this person will be crystal clear to those left behind. Some will cry a river of tears, others will embrace this vile disgusting thing when it rises. The Trumpet blast is about to be heard by those who will be going home. Christ is about to return for His Bride. The Church will be gone and there will much celebration for this. Although a few will cry, wishing they had listened.
Report Post »Hollywood
Posted on July 27, 2011 at 2:01pmSOON,SOON, he will retire to eternity,and wonder, FOREVER!
Report Post »Rlynn
Posted on July 28, 2011 at 2:26pmEven so, come, Lord Jesus!
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