In keeping with their reputations as the two most dishonest men in America (Hillary is a woman…sort of) Obama drives the price of coal stocks to junk status and George Soros buys a million shares of Peabody Energy and 55,200 shares of Arch Coal, the two largest coal companies in America.
Soros may be a crook but he’s not a dumb one. What does he know that no one else does? Maybe it’s that he knows Obama is trying to raise one billion dollars for his presidential library. Would anyone find that so hard to believe?
There are only two reasons that Soros would buy this stock at this time. One is he thinks there will be a short term bounce in the price. Doubtful as long as Obama is determined to kill the coal industry, and if it does bounce, Soros would only stand to gain a couple of million, which I don’t believe he would waste his time with.
The second reason is that he could have inside information that Obama will either back off from the war on coal or that he will make it easier to mine the coal and send it overseas.