The first rule of investing: Don’t put money into a company that’s about to crash.
“I made an exception getting involved in 2004,” Mr. Soros, 80, said in a brief interview Friday at a forum sponsored by the Bretton Woods Committee, which promotes understanding of the International Monetary Fund and the World Bank.
“And since I didn’t succeed in 2004, I remained engaged in 2006 and 2008. But I’m basically not a party man. I’d just been forced into that situation by what I considered the excesses of the Bush administration.”
Mr. Soros, a champion of liberal causes, has been directing his money to groups that work on health care and the environment, rather than electoral politics. Asked if the prospect of Republican control of one or both houses of Congress concerned him, he said: “It does, because I think they are pushing the wrong policies, but I’m not in a position to stop it. I don’t believe in standing in the way of an avalanche.”
What does an avalanche look like? Well, per Gallup’s latest, it looks like a steady double-digit lead on the generic ballot that hasn’t budged despite a week of dopey “Democratic comeback” stories in the media. And, as Moe Lane pointed out a few minutes ago on Twitter, it looks like fully 93 Democratic House seats now in play according to the Cook Political Report — including the one held by Barney Frank. I wonder if, in 30 years of being in the House, Frank’s seat has ever showed up on Cook’s hit list before. Strange days, my friends. Magical days.
Via Big Hollywood, a little mood music on a slow holiday afternoon. Yes, that’s Zo Rachel on drums at the beginning.