From The Pragmatic Capitalist:

...Although Soros has turned more bullish over the course of the last 6 months he has not lost sight of the forest for the trees.

In a recent interview, he said the market is now very overextended and at substantial risk of another downturn. But that doesn't mean the market will turn down immediately. Soros says the market is likely to remain buoyant throughout the remainder of 2009 and will likely face its reality of weak global growth in 2010. He says the rally has been driven by the government stimulus and little else. Soros says the recent uptick in bank earnings is essentially a fraud:

Soros recently said the move down in the dollar was unsustainable (he obviously reads too much TPC) and that its link to the Renminbi would reduce the overall decline. Despite this, Soros is betting big on all things "real". In particular, Soros is betting big on...

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