Soros is a slick one. He is a big fan of the “say one thing do another” school of investing and public life. He preaches the green sermon all the time but has held (or still holds) large positions in coal and oil companies. Petrobras is one, it has recently been embroiled in a massive corruption scandal.
He is also big fan of restricting gun use in the United States. Yet as it turns out he is hedging his advocacy by investing in the firearms industry. Consistency means little to some so long as the end, their end, is furthered.
(From The International Business Times)
Advocates for divesting from the firearms industry got a boost from Wall Street titan George Soros last week. The billionaire investor is in a strong position to make such a call: He’s one of the leading financiers of the gun control movement, and the fund he leads recently owned a piece of the firearms industry.
On Thursday, at the World Economic Forum in Davos, Switzerland, Soros expressed interest in the divestment idea. Asked by International Business Times if investors who support gun control should sell their holdings in firearms companies, Soros responded: “I’m very much against guns. And if it can be organized on a large enough scale, I wouldn’t be opposed to it.”
Securities and Exchange Commission filings reviewed by IBT show Soros Fund Management as a top institutional shareholder in Vista Outdoors — considered the country’s top ammunition manufacturer — andOlin Corp., which makes ammo under the Winchester name. Soros Fund Management purchased a stake in Vista in early 2015 and possessed $11.4 million worth of shares in the company at the end of September, the most recent time the firm reported its holdings. Soros’ firm appears to have bought $5.2 million worth of Olin shares between July and September.