from: http://www.aci.net/kalliste/ Click Here: <A HREF="http://www.aci.net/kalliste/">The Home Page of J. Orlin Grabbe</A> ----- How Are the Mighty Brought Low! George Soros Cashes Out Fear of redemptions and/or fear of the markets. George Soros, the legendary hedge fund investor, has liquidated the majority of assets in his flagship fund. More than 80 per cent of Quantum Fund's $7bn in assets has been converted to cash, according to people familiar with the its activities. The size of the shift has kicked up speculation that Mr Soros may be preparing for a larger wave of investor redemptions than previously acknowledged after his move to re-make his funds along more conservative lines. Suspicions were raised because the amount of assets liquidated was roughly double the $3bn that Mr Soros recently predicted disenchanted investors would be likely to withdraw as a result of the restructuring. Soros Fund Management refused to comment on the matter on Monday. However, some observers said it was also likely that some of the cash had accumulated as a consequence of the change in strategy, where the firm has closed out risky positions and not yet replaced them with the more secure investments it will now favour. Mr Soros' effectively exited the large-scale hedge fund business earlier this year, after his funds suffered heavy losses from a downturn in technology shares. In April, he sent a letter to investors informing them that Quantum and Quota, its two largest funds, would be reduced in size, and would seek less risky investments. After Quantum averaged 30 per cent annual returns for more than 30 years, Mr Soros said he would be happy to achieve just half that in order to fund his charitable interests. Stanley Druckenmiller and Nick Roditi, the prominent managers who ran the funds, left Soros as part of the restructuring. Those changes are not believed to have sat well with investors in the fund, who had signed with Soros seeking lavish returns from its prominent cast. "This has all the ingredients of a big outflow," a hedge fund industry consultant said. "People don't invest in a brand name, and all the identifiable talent has admitted to not having their hands on the money anymore, so I wouldn't be surprised if the redemptions were a lot higher [than $3bn]." The Financial Times, May 16, 2000 ------------------------------------------------------------------------ ----- Aloha, He'Ping, Om, Shalom, Salaam. Em Hotep, Peace Be, All My Relations. Omnia Bona Bonis, Adieu, Adios, Aloha. Amen. Roads End <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, misdirections and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://home.ease.lsoft.com/archives/CTRL.html <A HREF="http://home.ease.lsoft.com/archives/ctrl.html">Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
