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re: What is George Soros investing in?
Posted on 8/21/12 at 2:59 am to goodgrin
Posted on 8/21/12 at 2:59 am to goodgrin
quote:
Real, tangible money isn't for everyone
He bought shares of SPDR Gold Trust - in other words, certificates and not "real, tangible money".
If you click through to the actual filing, you'll see he has about double that amount in Sandisk Corp. bonds. Even more than that in Walmart stock.
$130M his gold certificate position isn't even that big a part of the total portfolio of almost $7B. Around 2%. Gee, what a ringing endorsement.
2
Posted on 8/21/12 at 6:23 pm to foshizzle
Soros also bought Manchester United. My Gosh that has to be some kind of a vanity buy for him.
The selling of the banks raised my eyebrows. Soros funds the work of Steve Keen and Keens proposals for writing off the housing debt are very... for lack of a better word, outre.
Makes me wonder if Soros has some kind of insider knowledge on whats next for debt write off. That would explain his selling of the banks.
The selling of the banks raised my eyebrows. Soros funds the work of Steve Keen and Keens proposals for writing off the housing debt are very... for lack of a better word, outre.
Makes me wonder if Soros has some kind of insider knowledge on whats next for debt write off. That would explain his selling of the banks.
Posted on 8/22/12 at 11:15 am to foshizzle
quote:
He bought shares of SPDR Gold Trust - in other words, certificates and not "real, tangible money".
If you click through to the actual filing, you'll see he has about double that amount in Sandisk Corp. bonds. Even more than that in Walmart stock.
$130M his gold certificate position isn't even that big a part of the total portfolio of almost $7B. Around 2%. Gee, what a ringing endorsement.
Each GLD share represents 1/10 of an ounce of gold. Before GLD issues new shares, it takes in the necessary gold to back them. On days when there are more sellers than buyers of GLD shares, the fund offloads some of its gold.
The big question is, when the masses lose confidence in the US dollar, and folks that own GLD want to take delivery of their "physical" gold, will there be any there to back up their "certificates"? I wouldn't bet on it.
It's same for SLV, the silver certificate equivalent of GLD. JP Morgan Chase is the custodian of SLV. All I have to say about that is...
JP Morgan is finished!
130 million dollars? The entire precious metals only emcompasses about 1-2% of all financial investments....right now. When the amount of money increases to just 5% in the precious metals (very likely and will happen), gold and silver will shoot to the moon.
Foshizzle's cousin about to take a ride to the moon.
If gold/silver dips again into the low/mid 20's, I'll just continue to load up.
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