Soros Short S&P 500; Says Now is Not the Time to Buy

(Updated - January 21, 2016 3:51 PM EST)

Speaking in Davos, George Soros said he shorted the S&P 500 and that now is not the time to buy, according to Bloomberg.

Soros is long U.S. government bonds and says Russia is in a very, very weak position. The investor believes Russia has enough reserves to last for "a couple of years."

Soros also commented [not verbatim]:

• China can manage a hard landing as it has resources to do so
• China and oil devaluations fuel deflation
• QE has worked; it save the world from a great depression
• He acted "one year too late" when it raised rates
• He'd be "very surprised" if the Fed raised rates again
• However, a Fed rate cut could happen
• QE is one diminishing return now
• The one Big Idea is deflation
• He is long U.S. bonds

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