#ForexChief #Amazon #stocks #NASDAQ #forexnews #AMZN #Soros #worldnews #Fed #Alphabet⠀
🔥 Alphabet: Soros plays big
⠀
👉 After the Fed has sharply increased interest rates, a recession in the US economy is regarded by analysts as an inevitable scenario. Usually, high-tech goods and services are the first to suffer from a decrease in consumer income, so it is very risky to invest in Big Tech assets now. But old George is not afraid of this situation.
⠀
Alphabet (NASDAQ: GOOGL) is acknowledging spending cuts by some advertisers in native and search advertising, such as in the financial services sector: insurance, loans, mortgages and cryptocurrencies. Nevertheless, last week
Soros acquired a significant stake in this company, despite a not-very positive third-quarter report and a lot of negative forecasts. Perhaps he already has some insider information that allows him to reduce the risk of such investments.
⠀
Soros already owned 53,175 Alphabet shares as of July 31, and already 3 months later his share grew to 1.01 million shares (+1.806%). He began to open active buys when Alphabet prices lost 12.2% of their value.
⠀
Soros Fund Management reduced positions in Amazon (NASDAQ: AMZN) and Qualcomm (NASDAQ: QCOM) in the third quarter of 2022. The fund also acquired shares in international booking services Booking Holdings (NASDAQ: BKNG) and Airbnb (NASDAQ: ABNB), as well as fully sold shares in Taiwanese chip maker TSMC (NYSE: TSM).
⠀
The largest share in the Soros portfolio is the shares of the electric car manufacturer Rivian (13.33% of the portfolio), while the shares of Biohaven Pharmaceutical (8.5%) and Duke Realty Corporation (7.62%) also retained a significant share.
⠀
In total, the TOP-10 securities of the fund account for 54% of the total value of the investment portfolio, which, as of September 30, 2022, amounted to $4.04 billion.
Soros' investment logic may seem strange, but given that such monsters of the market survive after any crisis, then his opinion is still worth listening to.
⠀
Profits to y’all!