After selling off a load of his position in Japanese equities last month, George Soros is buying them up again, the WSJ reports.
Unless you’ve been under a rock for the past few weeks, you noticed the serious selloff in Japanese stocks. The Nikkei has lost 21% since its intraday peak on May 23rd and now the Abe government is pushing for Japan’s institutional investors to jump back in the action.
Soros’ money will definitely help Abe out. The hedge fund manager runs $24 billion of his own money and made $1 billion from positions in the Japanese yen and Japanese stocks earlier this year.
A person familiar with the situation told WSJ that Soros is buying up everything from big blue chip Japanese companies to mid-cap growth stocks.
So consider that.
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