Here we are breaking our general rule against posting every 'breakthrough' or change in chemistry or manufacturing process for the second time in a week* but when it's CATL or Tesla you almost have to pay attention or risk getting stuck as the market moves away from you.On the other hand we have no interest in something like QuantumScape which recently reiterated their target dates for commercialization as 2024 -2025. Too much can happen in the meantime.And a small underfunded company may not be able to react....
And today's story from Bloomberg via Yahoo Finance:
Soros Fund Management increased its bets on real estate and financial stocks during the last quarter, while the value of its U.S. equity portfolio dipped to less than $5 billion.
George Soros’s investment firm disclosed new positions in Hill-Rom Holdings Inc., MGM Growth Properties LLC, JPMorgan Chase & Co. and Goldman Sachs Group Inc., according to a regulatory filing Friday.
The New York-based firm increased stakes in IHS Markit Ltd. and homebuilder Dr Horton Inc. It exited positions in electric-vehicle battery startup QuantumScape Corp. and elevator manufacturer Otis Worldwide Corp....
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Hill-Rom used to make hospital beds and caskets which always seemed like a "got you coming and going" type of business. They spun off the casket business and now make operating tables and hospital beds but they are being acquired so Mr. Soros' peeps probably have some sort of risk arbitrage bet going on.
Banks and property seem to be a macro bet on inflation and interest rate curve steepening but you never know; two of the problems with 13F's is they don't require disclosure of derivative positions, meaning there could be anything from a call-write income operation to a dirty-hedge put against the longs and you wouldn't know. The second problem is the managers are only required to show U.S. traded positions so again, you can have a dirty-hedge U.S. long offset by a European or Asian short and be none-the-wiser by looking at the filing.
