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Thu May 22, 2014, 03:21 PM

George Soros sells all shares of Citigroup, Bank of America and JP Morgan [View all]

Is this a sign of trouble ahead for the banking industry?

Just over 2 decades ago banker George Soros made his most famous investment by shorting the British pound and pocketing a billion dollars in the process. Since then he has become famous for betting on stock market crashes and in some cases even rigging markets to fail for his own gain.

Just months ago, Soros made headlines by making a billion dollar stock bet against the S&P 500. At the time this was said to be a sign of trouble ahead for the US economy, as Soros has seemed to have had advance knowledge of market crashes in the past. As a result of this reputation, investors have begun to keep a close eye on his holdings.

This week investors took notice again when Soros sold his shares of three major American banks, including Bank of America, JP Morgan and Citigroup.

Read more at http://intellihub.com/george-soros-sells-shares-citigroup-bank-america-jp-morgan/#xAzeAD4Ge7WJ7fBT.99

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Reply George Soros sells all shares of Citigroup, Bank of America and JP Morgan [View all]
appleannie1 May 2014 OP
onehandle May 2014 #1
florida08 May 2014 #2
spockeye May 2014 #3
nadinbrzezinski May 2014 #7
Tierra_y_Libertad May 2014 #4
dixiegrrrrl May 2014 #5
jwirr May 2014 #6