Friday, October 8, 2010

George Soros Says Oil baby, Oil

Whatever happened to Green George and the alt-energy investments?*
From Market Folly:
George Soros' firm, Soros Fund Management, recently filed a 13G with the SEC regarding shares of Plains Exploration & Production (PXP). Due to portfolio activity on September 27th, 2010, Soros has disclosed a 5.03% ownership stake in PXP with 7,051,815 shares.

This marks a 38.5% increase in their position size, as they owned 5,091,315 shares in their last disclosure detailing positions as of June 30th, 2010. Plains Exploration is a name Soros Fund Management has seemingly long been involved in, holding a position for many quarters now. To see the rest of Soros' investments, view his portfolio in Hedge Fund Wisdom, our brand new publication....MORE
*cnet, Oct. 13, 2009
Financier Soros to invest $1 billion in clean tech

There was probably as much truth to that as there was to this, reported by HuffPo, Mar. 30, 2008:
Al Gore Launches $300 Million Bipartisan Ad Campaign, Including Al Sharpton & Pat Robertson 

As we've seen, Soros Fund Management has a fondness for InterOil and Petrobas and coal producer Consol Energy.

Here's Mr Soros giving Congressional testimony:

"You have my word as a hedge fund manager...."
[George Soros]