You just never know when Jet Blue is gonna get an endorsement :)
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NEW YORK (Dow Jones)--Billionaire George Soros, in referring to his two-page advertisement in Wednesday editions of The Wall Street Journal, said he considers the upcoming U.S. presidential vote to be "the most important election of my lifetime."
Speaking on CNBC Wednesday, the famed investor said he feels compelled to speak up because he believes Bush's pre-emptive attack on Iraq has taken the U.S. in a dangerous direction, creating a "vicious circle of violence that will make us much less safe."
Soros, who said he was not normally involved in politics, said his Journal advertisement - entitled "Why We Must Not Elect President Bush" - did not constitute a personal attack on the Bush but was instead an attack on Bush's policies. Soros said Bush has misled Americans and "exploited our fears to make
us think he can make us safe, and the opposite is true."
The investor predicts the U.S. dollar's recent strength may be sustainable, and wouldn't comment on whether he has a short position on U.S. currency.
Soros touted Jet Blue Airways Corp.'s (JBLU) stock, saying he owns it because of the competitive advantage the low-cost airline enjoys.
Regarding financial-services company Fannie Mae (FNM), Soros said missteps of the biggest player in U.S. mortgage finance have "blown up now."
Although Fannie Mae will have to raise additional capital, Soros said, a potential bubble has been averted.
Soros, who runs an $8.3 billion hedge fund, said hedge funds are influential in the markets and offer superior performance, as do other alternative investment vehicles.
"Hedge funds are a superior way of putting money to work," he added, saying that regular portfolios are flat and two-dimensional, whereas hedge funds are three-dimensional and, he said, offer a greater variety of investment techniques. |
