Billionaire investor George Soros and his company Soros Fund Management are seriously investigating following Warren Buffett's lead and buying an auto dealer body. A Soros representative was reportedly trying to sell dealers on the idea during a private dinner, indicating that current management would stay in place, if the company invested.
About a year ago, when Ford's stock dropped to just above $1 per share, we had a total Ralph Kramden-style get rich quick epiphany. Take all our money and buy Ford stock. Why? Having driven Ford's new, excellent products (like, say, the 2010 Ford Fusion), we knew that barring some weird disaster, that its stock could only, would only rise. Talk about easy money – we'd just sit back and get rich(ish). Trouble was A) we didn't have very much money B) we... forgot to buy any Ford stock.
George Soros is said to be looking at investing $200M into Chinese automaker Chery to help its efforts in exporting low-cost vehicles to the United States. How this dovetails into Malcolm Bricklin's efforts to do the same with his Visionary Vehicles company is not yet clear; Bricklin is said to have confirmed the amount of the pending investment, but won't state the source of the money. Soros' fortune, earned mostly by currency speculation, is estimated at $7B, but we're not
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