Monday, February 06, 2017

Family Affairs

It's just a home business:
Soros’ chief investment officer (CIO) — who was fired last year — purchased 116 new stocks, among them oil and gas companies. The fund’s CIO post has seen a high turnover. Seven individuals have served as the Soros’ CIO since 2000.

He transformed his fund in 2011 into a “family office” that allowed him to avoid certain financial reporting requirements under the Dodd-Frank Act signed into law by President Barack Obama in 2010. Soros also parked his money in an entity called Quantum Group of Funds, which is based in the Cayman Islands.

The second largest Soros energy investment last year was $54 million he paid to buy 3.7 million shares in Columbia Pipeline, an oil and gas pipeline company. Columbia Pipeline completed its merger with TransAmerica — of Keystone XL Pipeline fame — in June 2016. Obama rejected the pipeline, but President Donald Trump has approved it.
George is just mad because he can't make any money from it...

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