Ben Chu: Manchester United's hedge fund fan
Outlook One imagines that the eyes of the beleaguered Glazer family lit up when they discovered that George Soros' hedge fund had snapped up 19 per cent of their Manchester United share offering.
What better rebuke to those legions of doubters who said the family were grossly overvaluing the club than the endorsement of the legendary investor who "broke the Bank of England"? If Soros sees value in owning a piece of Manchester United at $14 a share, who would dare say different?
Except that a Soros endorsement is not all that it once was. For one thing, the great man gave up active management last year, leaving day-to-day control in the hands of his sons, Jonathan and Robert. And their record hasn't been too smoking hot since.
They bought into Facebook earlier this year. The social-media firm's shares have, of course, almost halved in value since it went public. And United's shares have also been on the slide since the New York float on 10 August. They are down almost 7 per cent, which means the Soros fund is sitting on a loss of about $3m (£1.9m) on its 3.1 million shares.
Let's hope the Soros boys are in it because they're fans of the team.
- 1 What happens to your body when you give up sugar?
- 2 Have sex with your iPad thanks to the new sex toy no-one asked for
- 3 The 'sex selfie stick' lets you FaceTime the inside of a vagina
- 4 Why you're almost certainly more like your father than your mother
- 5 Westboro Baptist Church couldn't picket Leonard Nimoy's funeral because they didn't know where it was
Mark Zuckerberg: Facebook CEO's one simple test for who to hire
Bali nine: Welcome to 'Execution Island' – the Indonesian holiday resort where foreigners are sent to die
'A girl is more responsible for rape than a boy': The statement that shocked the world... except India
The 'sex selfie stick' lets you FaceTime the inside of a vagina
Saudi Arabia executions now at 'unprecedented rate' after kingdom kills four more in two days
Durham Free School: 'Creationism taught at' free school facing closure
Nearly 100,000 of Britain's poorest children go hungry after parents' benefits are cut
End of the licence fee: BBC to back radical overhaul of how it is funded
Nigel Farage promises Ukip will not 'stigmatise' would-be migrants – and says he wants 'everyone to speak the same language'
Ex-head of MI6: 'We shouldn't kid ourselves that Russia is on a path to democracy'
Most people think legal tax avoidance is just as wrong as illegal tax evasion, poll suggests
iJobs Money & Business
£8 per hour: Recruitment Genius: This Pension Specialist was established early...
£30 - 35k + Bonus & Benefits: Guru Careers: We are seeking an Executive Assist...
£25000 - £30000 per annum + benefits: Ashdown Group: A global leader operating...
Voluntary post, reasonable expenses reimbursed: Reach Volunteering: Would you ...