George Soros Buying Tons of Yahoo Stock, For Some Reason
Is something brewing at Yahoo (YHOO)? And what? The Internet stock is still struggling to find a way to grow while competing with Internet giant Google (GOOG) — no changes there. Meanwhile, Yahoo shares have basically done nothing for investors through tech rally, starting the week at the same price they were back in June. There’s just not a lot to get excited about.
But get this: Billionaire financier George Soros has been quietly snapping up Yahoo stock in recent months, tripling the size of his position from 726,000 shares to 3.5 million. Mr. Soros, known for his Midas touch, is one of the few hedge-fund bosses to rack up gains in 2008 and 2009. So some investors will no doubt copy his Yahoo investment.
Minyanville is skeptical: they recommend not following Soros’ move until more public, non-billionaire exclusive information becomes available.
(Minyanville via Fimoculous)
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