In good company: Soros a bear!! - Aussie Stock Forums

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  1. #1
    Rotaredom wayneL's Avatar
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    Jul 2004

    Default In good company: Soros a bear!!

    Hi, I pirated this from another forum... for your perusal:


    I found this interview with George Soros from June 2006 on YouTube (interviewed by CNBC News anchor Maria Bartiromo), it's a little shaky as the clip is from a camcorder of a TV screen, but it's worth a look:

    Soros Interview

    A synopsis of the interview at www.andongkim.com :

    Soros on the markets

    As for commodities, "it's been a parabolic rise", he said, and "we know it cannot last". It's been "overdone on the speculative side... commodities have become an asset class and now it's vulnerable".

    He said that he doesn't know how far it might go, but to be sure, the "last bit" will be the "best bit". He said he sees a "period of correction" for commodities.

    But the mother of all asset classes that is most vulnerable, Soros believes, is the residential real estate market. He thinks that residential real estate in the US is slowing and will continue to slow, and this will be a "worldwide phenomenon".

    On the US dollar, Soros said that he believes that as soon as rates peak in the US, the greenback will come under pressure. But a decline in the dollar is a good thing, he believes, in the light of the huge imbalances that need to be corrected. However, he cautioned that exchange rates movements will have to be "quite extreme" to correct themselves.

  2. #2

    Default Re: In good company: Soros a bear!!

    That is some foresight as good as hindsight!

    Surprised nobody posted in this thread, if you wanted a crystal ball at the time, nobody better to provide it!

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