George Soros has exited his positions in JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS), and several other banks. He's pared his exposure to Citigroup (NYSE:C), cut his stake in AIG (NYSE:AIG) by two-thirds, and sold every share he owns in General Electric (NYSE:GE).

In all, SNL Financial says Soros's financial stock holdings are down 80% from where they were just three short months ago. But why?

Does Soros know something we don't? And what should you do about it?

Listen in as Fool contributor Rich Smith explains.