George Soros Buys 1.9 Million Shares of Halliburton

[Jcrowley]

Soros bought CVS, Rite Aid, Halliburton in Q4
Wed Feb 14, 2007 6:36pm ET

WASHINGTON, Feb 14 (Reuters) - Billionaire investor George Soros said on Wednesday he bought 2.1 million shares of CVS Corp (CVS.N: Quote, Profile , Research) and 1 million shares of Rite Aide (RAD.N: Quote, Profile , Research) in the fourth quarter of 2006.

Soros also added 1.9 million shares of Halliburton (HAL.N: Quote, Profile , Research) and 1 million shares of Take-Two Interactive Software (TTWO.O: Quote, Profile , Research) to his portfolio during the quarter.

Soros Fund Management LLC disclosed its holdings as of Dec. 31, 2006 in a quarterly filing with the U.S. Securities and Exchange Commission.

http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20070214:MTFH95549_2007-02-14_23-36-46_WAO000067&type=comktNews&rpc=44

[orpupilofnature57]

1. Sickness and War ,the last minion for the misanthropic 1% ,Shrubs folk

[orpupilofnature57]

2. Lord jowls is just banking on misery , what did you expect? a grant?

[AnnInLa]

3. Hmmm, What's it all about, Alfie?

[Straight Shooter]

4. IIRC, those stocks are 2% of his investment portfolio.

Did he personally direct the purchase of that stock, or did his investment manager(s) purchase them? I don't think anyone should be buying Halliburton stock, but I don't know how much direct involvement Soros actually has.

While Reuters is at it, let's hear about everyone who owns at least 1% stock in Halliburton. That should be an eye-opener.

[Straight Shooter]

5. IIRC, those stocks are 2% of his investment portfolio.

Did he personally direct the purchase of that stock, or did his investment manager(s) purchase them? I don't think anyone should be buying Halliburton stock, but I don't know how much direct involvement Soros actually has.

While Reuters is at it, let's hear about everyone who owns at least 1% stock in Halliburton. That should be an eye-opener.

[XOKCowboy]

6. Sounds like a smart investment to me...

as long as BushCo is in the White House or Cheney is alive.

Say what ya want but I'll bet a lot of the profits from those investments go to progressive causes.

[Jcrowley]

8. That's a deal

with the devil. Can't get with that. I have children and that's a bad example for them.

The philanthropy of Mr. Soros is rather overstated and misunderstood.

But to the point at hand there simply is no spinning this one. This is supporting the worst of the worst.

[XOKCowboy]

11. You don't get that kind of money...

buying vanity stock that suits political purposes.

[Jcrowley]

12. I don't get that kind of money

period. I don't get the desire for that kind of money. It's all a dirty game that causes extraordinary destruction.

I would never participate in such machinations. Wall St. itself is a snakepit on all levels.

I'm not sure if you are suggesting that the pursuit of money beyond what one needs for practical purposes is a n endeavor to be regarded highly.

Even if I had the cash I would find it an act against conscience to invest in the War Machine.

Fiat currency and the well-heeled mafia at Goldman-Sachs have led to lives of perverse abstraction and we think it okay somehow to play a bit part. It's not.

[Doremus]

16. Thank you for that poignant post that reflects my feelings so well.

:toast:

[Jcrowley]

18. Very strange

that this very wicked manipulation could be rationalized so easily by some. This isn't even a borderline dose of hypocrisy and yet....

Thanks

:toast:

[bluerum]

7. So, now his legal staff gets mailed the annual reports. He also gets voting rights.

He does not need the money.

I think he is scheming.

:tinfoilhat:

[Cerridwen]

9. Thanks for saying that.

I was thinking the same thing.

Destroy(?) from within?

[Lost-in-FL]

10. My first, very immediate thought

was that one. Boohaaahaaa!! :tinfoilhat: :tinfoilhat: :evilgrin:

[Jackpine Radical]

14. Dit

to!

[Telly Savalas]

13. Annual reports may be viewed by everybody at the SEC website.

If you look at Halliburton's annual report (http://www.sec.gov/Archives/edgar/data/45012/000004501207000072/ed10k2006_final.htm), you'll see that they have nearly a billion shares of stock outstanding, so Soros's 1.9 million shares don't really translate into any power via voting rights.

[conscious evolution]

15. I think so too.

He has to know Haliburton is a huge target these days.He is very likely up to something.

[Pavulon]

21. 1,005,510,000 shares outstanding, he bought 65k, he gets nothing except profit(nt)

[Contrite]

17. Mr. "moveon.org" is a real opportunist

I guess the Democrats won't mind awarding fat contracts to Halliburton now.

[Bluestar]

19. It's possible

That he's trying to purchase a big enough block of shares in these companies that they will be forced to give him a board seat. Then he could make a real difference.

[hyphenate]

22. Exactly

And as the economy get deeper and deeper into shit, Soros can keep buying stock in it, until he gets a significant amount. Before, he probably couldn't do it because of Halliburton's ties to Cheney, so stock sales on the level that Soros would deal with weren't getting sold, and were being held close to the chest. I bet that Soros will own enough at some point to let the company go to hell (where it should have been for a long time!) and go either Chapter 11 (or is it 13?) or absorb it into his own companies and get rid of all the nasty employees who like overcharging the government for war contracts. Heaven knows that Halliburton is a tax haven for people like Cheney, and we all know that hardly a penny was spent on the troops and their supplies (like body armor?). I guess that plastic turkey some years back was likely from them, though.

[hyphenate]

20. Soros is one of the good guys

His buying of stock in Halliburton, though, is not to support it, but by being a stockholder, he controls X% of the company's assets, and has a vote in everything they do. I think it's brilliant, and while in the end it may cost him some money, I think having a hand in the pie, he's got a good seat to make a good deal of trouble for them in the foreseeable future.

I hope he has some Carlyle stock as well.

[Jcrowley]

23. Not true

see several of above posts. There will be no power involved at all only profit. And even the power bit is rather thin.

It's opportunistic hypocrisy endemic in savage capitalism. Nothing more nothing less.

[Pavulon]

24. .000006% or so? give or take a 0

1,005,510,000 shares he owns 65000

[johnaries]

25. Soros has always said he keeps his politics and business separate.

I guess this proves it.

[KharmaTrain]

26. Wouldn't It Be Interesting If This Is Part of An LBO

A Leveraged Buy-Out...or a hostile takeover of the company. Or to buy enough shares to get a big seat at the next stockholder's meeting. Either way, this could be interesting.

[blogslut]

27. Perhaps Soros is a fan of my (secret) philosophy

I was told the quote was uttered by the designer, Flora Kung. I have my doubts. The wisdom in the phrase is too universal to have been created in the late twentieth century.

Just the same, it is my secret, silent philosophy, and I will share it here just this one time:

"Become a part of the system, then undermine it."

[Peace Patriot]

28. I hope he has a scheme. Hard to tell. He could be planning to escalate his

shares incrementally, and eventually mount a hostile takeover. He seems to be one of the good guys. And some of the good guys are billionaires. It may be wrong to have so much money, when others can barely make it, and many are starving. And the stock market is certainly a completely amoral--and I might even grant evil--place. But if any of us common folk got into such a position, would we give it away, or try to exercise the power of that kind of wealth responsibly? Probably only the saints among us would give it away. I don't buy that anybody earns that kind of wealth. That is bullshit. But everyone is born to different circumstances, different karma, and anyone could find themselves, by luck, by connections, by birth, by talent, by a hundred different variables--sometimes by being a jerk, but sometimes not--fabulously wealthy. Then what do you do?

It's too simple to say that great wealth is evil. And I think it's also too simple to jump to the conclusion that a man like Soros investing in Halliburton is necessarily an evil or amoral act. We'll see what he does. It's hard for me to believe that he would let his money managers invest in this extremely notorious corporation without his knowing it. My first reaction was to LOL! Brother, has Halliburton got a whole lot of trouble coming!