Baerrus Magnus
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Soros Dumps Baidu and Alibaba Stocks

George Soros, who is known to accurately anticipate, and some may say even precipitating Nasdaq meltdown in April 2000, has exited BIDU and BABA positions in the last quarter. 

Soros Fund Management LLC largely sold off its stakes in Chinese Internet giantsAlibaba Group Holding Ltd.BABA +0.58% and Baidu Inc.BIDU +1.94%, while buying an ETF that tracks large-cap Chinese companies and another that follows companies in emerging markets.

Soros sold 4.39 million Alibaba shares, leaving the fund with 59,320 and reduced his position in Baidu to 42,800 shares from 358,650 at March 31. Over the same period, however, the fund also bought 1.9 million shares of the iShares China Large-Cap ETF FXC.LN -0.70%, which tracks large Chinese companies, and 2 million shares of theiShares MSCI Emerging Markets ETF EEM -1.10%, which follows emerging market 

Wallstreet Journal