Old Billy was right..........from Rico

As the band "The Eagles" said...."old Billy was right" (kudos to William Shakespeare).

It seems the "ultimate" insider is skipping the toil, leaving us all in trouble, and seeing "bubbles"...
- Let me explain my unfortunate reference to Shakespeare's immortal play (bubble, bubble, toil & trouble).

Soros Fund Management has CUT it's exposure to equities over 42% from its position end-March to end-June. Very quietly, very not-in-public this was accomplished.
- Holdings in Petrobras, Walmart, and JP Morgan Chase and others are gone.
- The gold ETF [GLD] remains his largest position.

So?
- Georgie famously said recently that "gold was the ultimate bubble" while VERY publicly 'talking his book' in Davos to try and jawbone gold prices down while he was privately doubling-down on his gold position.
- Does the Bubble-meister now know something WE do not? Are stocks a 'bubble' that is ready to pop?
- He's NOT a stupid man, and I think he sees trouble ahead...