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Traders Workshop

George Soros Explains How to Protect Your Wealth

Stock-Markets / Financial Markets 2012 Aug 28, 2012 - 01:42 AM GMT

By: Ian_R_Campbell

Stock-Markets

Why read , watch, listen, and think hard about:  Because it is clearly worth while to listen to an address delivered by George Soros this past June, and then think hard about what he says.  Reflect on what has happened in the Eurozone in the past two months by way of both events and progress in crisis-solving, in circumstances where Mr. Soros says in his address he believed in June the following three months were very important ones for Eurozone politicians to ‘get ahead of the curve’.


Commentary:  If you see yourself as someone who ‘thinks for yourself’, you have wealth to protect, and you have not previously watched the referenced video, I strongly recommend you now spend over one hour with George Soros.  I particularly recommend this given that he delivered this address in June, and because I believe we are now getting to the point where we can see the lights of the train as it comes ever closer to where we are standing on the Eurozone (and world) economic track.

In particular, I suggest you listen to what Mr. Soros says when he discusses at:

  • minute 34 in his address what he calls “an arcane clearing system” called Target 2 that, should the Eurozone break up, he believes will cause problems between the:
    • Central Banks that are creditors of the Eurozone Central Banks on one hand, and
    • Eurozone Central Banks as debtors on the other.
    This is potential contagion at a different level than I have been focused on, in circumstances where I have been focused on contagion problems I think may be faced by investment banks and hedge funds should the Eurozone be materially altered or, at an extreme, break up;
  • minute 44 of his address what he calls an “inflection point”;
  • minute 45 of his address where as I listened to him, in June he:
    • forecast that the Eurozone will not break up because he believes a Eurozone break-up would leave Germany with large uncollectible credits from other Eurozone countries, and
    • predicted a continuing Eurozone where Germany is even more dominant and advantaged than it has been as a Eurozone member to date; and,
  • minute 51 of his address, where in June 2012 Mr. Soros expressed “tremendous concern” that the process of dealing with the Eurozone financial crisis is taking too long to address.  As you listen to this:
    • recall that he said this in June,
    • know he then said that three months from then the situation ‘will deteriorate’ if politicians do not “act ahead of the curve” instead of ‘behind the curve”, and
    • consider that in the past two months (of Mr. Soros’ three month period) not a lot has changed in the context of Eurozone political activism.
    When listening to Mr. Soros, I suggest you do not dismiss what he says on the basis that he is a ‘vested interest’ speaker who is simply saying what he says to influence the financial markets, and hence put more money in his pocket.  Mr. Soros acumen and financial success is the reason he ought to be listened to – in circumstances where at his age I suggest it is extremely unlikely he is prepared to ‘risk his reputation’ by saying something he does not believe, simply to make a few more dollars.

In summary, I consider Mr. Soros’s address one of the best I have listened to in the past two years.  Nothing he said left me with any changed attitudes or views from those I have expressed in this Newsletter over the past six months.

Topical Reference:  Awesome: Watch George Soros’ Epic Speech On The Euro Crisis, from Business Insider, Sam Ro, August 24, 2012 – reading time 3 minutes, full transcript reading time 30 minutes, video watching time 1 hour and 12 minutes – of which about 48 minutes is Mr. Soros’ address, and the balance is questions and answers.

Ian R. Campbell, FCA, FCBV, is a recognized Canadian business valuation authority who shares his perspective about the economy, mining and the oil & gas industry on each trading day. Ian is also the founder of Stock Research Portal, which provides stock market data, analysis and research on over 1,600 Mining and Oil & Gas Companies listed on the Toronto and Venture Exchanges. Ian can be contacted at icampbell@srddi.com

© 2012 Copyright Ian R. Campbell - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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