by Richard Poe
March 26, 2007
Does Democrat sugar daddy George Soros know something his fellow Democrats don’t? It would appear so. Mr. Soros has invested $62.6 million in Halliburton Company of Houston, Texas — suggesting that he believes U.S. victory in Iraq is near.
Halliburton, America’s largest oilfield construction and maintenance firm, recently announced plans to move its headquarters to the wartorn Middle East — specifically, to Dubai, a Persian Gulf emirate ruled by Sheikh Mohammed bin Rashid al Maktoum. (1)
It seems unlikely that Halliburton would make such a move unless it felt confident that U.S. victory in Iraq was imminent, and regional stability inevitable. Likewise, it seems unlikely that George Soros would invest in Halliburton unless he shared the company’s confidence in U.S. victory.
Soros Fund Management LLC purchased 1.9 million shares of Halliburton, as disclosed in its December 31, 2006 quarterly filing with the Securities and Exchange Commission (SEC). (2) At an estimated purchase price of $31.30 per share, Mr. Soros apparently paid about $62.6 million for his Halliburton stake. (3)
1. “Oil and Gas News: Trade Alert for Halliburton Co“, boston.stockgroup.com, 13 March 2007
2. “Soros Bought CVS, Rite Aid, Halliburton in Q4“, Reuters.com, 14 February 2007, 07:36 PM ET
3. Mike Boyer, “Soros Buys Halliburton“, FP Passport (a blog by the editors of Foreign Policy, 27 February, 2007, 03:22 PM, “George Soros Buys International Rectifier Corp., Basic Earth Science Systems Inc., CIENA Corp., Sells Repligen Corp., Netease.com Inc., Nortel Networks Corp.“, gurufocus.com, 18 February 2007