market folly

George Soros' hedge fund firm Soros Fund Management has just recently filed an amended 13G due to activity on October 29th, 2009. In the filing, they are now showing a 13.66% ownership stake in Global Ship Lease (GSL) with 6,847,753 shares. This total is actually calculated by 3,097,753 shares of common stock and then 3,750,000 shares issuable upon exercise of warrants held. To see other recent portfolio activity from legendary investor George Soros, head over to our post updating his positions.

As we noted in our hedge fund news update, Soros is cautious and thinks the market is overdue for a correction, so we'll have to see if that plays out like he and many other fund managers are expecting. For more of Soros' thoughts on the crisis laden financial markets, we recommend checking out his latest book, The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means.

Taken from Google Finance, Global Ship Lease "acquires and charters vessels to container shipping companies. The Company was incorporated to acquire a fleet of containerships of diverse sizes."