Billionaire trader and political manipulator,George Soros, is clearly not optimistic. The latest SEC filings are out on the Soros hedge fund, Soros Fund Management.
Between the end of March and the end of June, Soros lowered his stock investments from $8.8 billion to $5.1 billion in the fund.
He sold most of his positions (over 95%) in Wal-Mart, J.P. Morgan Chase and Pfizer.
His biggest position at the end of June was in the gold ETF which accounted for 13% of his equity portfolio at $638 million.
Among the stocks that Soros added to the funds portfolio were Akamai Technologies, Salesforce.com, Netflix, and Chipotle Mexican Grill.
Bottom line: He is bailing out of U.S. stocks that are impacted by the overall economy, and just buying special situation stocks that are less impacted by a downturn in the economy.