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George Soros Gives Up On Gascon

Portfolio Armor's Photo
by Portfolio Armor
Monday, Aug 19, 2024 - 12:31
George Soros on holiday in Barbados.
George Soros on holiday in Barbados. 

Soros Stops Spending On Soft-On-Crime Prosecutors 

In a post last year ("San Francisco DA Chesa Boudin Was The Tip Of The Iceberg"), after the recall of San Francisco DA Chesa Boudin, I noted that dozens of soft-on-crime prosecutors had been put in office by George Soros's money: 

Americans who dislike rampant crime and the prosecutors who don't try to stop it scored a victory this week, with the successful recall election of George Soros backed San Francisco District Attorney Chesa Boudin. While Boudin may be unique in having been the only American prosecutor who was the son of two convicted felony murders, he unfortunately is not unique in having been backed by George Soros. A new paper by the Law Enforcement Legal Defense Fund claims that America has at least 75 prosecutors whose campaigns were either funded directly by George Soros's foundations, or indirectly via third parties that get most of their funding from Soros's foundations. 

I also included the Law Enforcement Legal Defense Fund's paper there detailing how Soros helped finance a spike in crime. 

Here is a bit of good news though: the Soros-backed, soft-on-crime Los Angeles District Attorney George Gascon is headed for defeat in his upcoming re-election, thanks in part to Soros not financing his campaign this year.

As our friends at America 2100 detail in the thread below, even in blue cities, public opinion has turned against soft-on-crime prosecutors, and in response, Soros has stopped funding them. 

The Tide Turns Against Soros Prosecutors 

Be sure to give America 2100  a follow if you're on X. 

In Case You Missed It 

In a post last week ("Two Bullish Bets On China"), I mentioned a bullish options trade you could try on PDD Holdings (PDD).

If you didn't place it then, it's too late to place it now, as the stock has spiked above that range. I do have a trade teed up on a stock with a similar set-up as PDD last week. If you'd like a heads up when I place it, feel free to subscribe to the Portfolio Armor Substack/occasional email list below. 

And if you just want to hedge your downside risk, you can download the Portfolio Armor hedging app here, or by aiming your iPhone camera at the QR code below. 

 

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