George Soros invests $2.2M in coal
 

Just like Al Gore Soros is a fraud. Just follow the money.


Billionaire investor George Soros, who has demonized fossil fuels for years through his think tanks and political contributions, seems to have warmed up to Big Coal now that stocks are dirt cheap.

The left-wing hedge fund legend has raised eyebrows with major purchases of stock in two large coal companies, firms his critics say he helped bring to their knees. While buying low is the hallmark of any shrewd investor, buying coal goes against the political and environmental ideology Soros has long espoused.

?I find it very interesting that George Soros would buy shares in those coal companies,? said Daniel Simmons, vice president for Policy at the Washington DC-based free market energy group, Institute for Energy Research. ?I am confused given the non profits he funds and how hard they have worked to demonize coal.?

Soros, whose Climate Policy Initiative think tank recently urged the world to stop using fossil fuels in general and coal in particular, snapped up 1 million shares of Peabody Energy and half a million shares of Arch Coal, giving him significant stakes in what?s left of the U.S. coal industry.

The trades would have cost Soros a lot more six years ago, when Peabody, which trades under the symbol BTU, was at about $90 a share. Under the Obama administration, which has punished the coal industry with costly mandates and regulation, Peabody shares have fallen to around $1.

The most recent filing shows Soros Fund Management holds stakes in 263 companies with a total value of nearly $11 billion.

The filing shows the purchases of 553,200 shares of Arch Coal for $188,000 and an investment of $2,254,000 into Peabody Energy for 1,029,400 shares, which means he?s lost money on both so far. Peabody, the biggest coal producer in the U.S. by output, said in a recent statement that it ?has been trying to turn itself around as it faces challenges from low natural-gas prices, a glut of global coal supplies, weakened demand from China and a growing public call to cut carbon emissions.?

He's the hedge fund tycoon with a heart.

Wow $2mil out of 11bn

It's like someone with 100K investing $18.18 lol

But 6 yrs ago this would have cost $180M.
Spend 5-6 yrs bad mouthing the industry then buy the shares at rock bottom prices.

And if that is what he did... only an idiot would claim he is doing something dumb or hypocritical. :winkwink:

a $2.2m investment for a guy like soros is like $5 to me and you.

Seriously, I am surprised he has people working for him that can invest such low amounts. he has a net worth of $23b and has a ridiculous amount of managers who just invest his money all day.

that investment is .1% of his worth, and according to your stats, the investment represents .2-.3% of the entire fund that made the investment decision to buy it. he, himself, likely wasnt involved in the decision at all.

and just to be clear, i am no soros fan.

Typical liberal hypocrite.

:1orglaugh

I thought the same thing.

I doubt a guy with that sort of money even knew the deal had been done...

He pays people to do that shit for him.....

Just as conservatives claim they aren't scientists they apparently aren't mathematicians either.

Pocket change ...

Could be he just wants the lands that they own.

The voice of reason. Good post.

He made a good decision. Peabody (BTU) used to trade at $90.00 a share but it is now only $1.00 as the article says. Coal and oil are not going away anytime soon, so as an investment, it makes total sense to buy now.

The coal and oil industries don't have to go. I think that If they could clean up their acts a little and get people to use energy more wisely, there's plenty of room for the fossil fuel industry to make lots of money while keeping the planet a little cleaner at the same time.