Posted on 04/11/2010 6:07:15 PM PDT by califamily4W
BOSTON - Billionaire investor George Soros' hedge fund more than doubled its bet on the price of gold during the fourth quarter, a portion of the firm's total U.S.-listed equity holdings of $8.8 billion at the end of 2009.
The New York-based firm also disclosed in a filing on Tuesday with the U.S. Securities and Exchange Commission that it bought almost 95 million shares of Citigroup during the quarter, worth $313 million by the end of the year. Soros reported no holdings of the troubled bank's shares at the end of the third quarter.
Soros Fund Management owned 6.2 million shares of SPDR Gold Trust -- an exchange-traded fund that owns gold bullion -- at the end of the year worth $663 million. That was up from 2.5 million shares at the end of the third quarter.
Soros and other noted investors like John Paulson have previously touted gold as a hedge against inflation, further economic turmoil or a decline in the value of the U.S. dollar. Last month at the World Economic Forum in Davos, Soros said "the ultimate asset bubble is gold," but he declined to say whether he was investing in the precious metal.
(Excerpt) Read more at ibtimes.com ...
Russia kicked him out, France kicked him out for insider trading but we are real comfortable with him helping zero become president and funding all that is un American. He is an enemy!
“Very dangerous man.”
He must have very powerful friends. With all the financial distress he has caused it’s a wonder he’s still walking around.
he bought that much gold, yet during the period he was buying the price was flat to down. Very bearish for gold, as those funds don’t hold their positions forever, and he’s paying finance charges on the leverage to boot.
I think he’s been to the White House like three times now to check on his boy.
Very powerful friends? He owns the Ayatollah Obama.
Normally he makes BO come to him.
If the White House is for sale, everything else is for sale.
And then George gives him an eight ball.
Is that the "soccer game" BO attended yesterday without the WH press pool?
Heads up.
Why did Bush not send him back to Russia when we had the power to do so?
The man is running this country with some others behind the scenes and obama is nothing but a puppet for them.
Without Soros then the far loony brainless left wing would be screwed .
I am waiting to hear obama put down soros and all of his money which he makes from the market and how much does he pay in taxes or does the IRS now just ignore his off shore accounts
maybe it was soros who bozo met when he sneaked out of the white house and said he was at a game when he was not .
course I don’t expect any on the far left have even heard about that from their huff post, move on, MSNBC, etc
Man who broke the Bank of England, George Soros, ‘at centre of hedge funds plot to cash in on fall of the euro’
A secretive group of Wall Street hedge fund bosses are said to be behind a plot to cash in on the decline of the euro.
Representatives of George Soros’s investment business were among an all-star line up of Wall Street investors at an ‘ideas dinner’ at a private townhouse in Manhattan, according to reports.
Does this mean I can’t root for the Mets?
he is a rotten SOB...NObama is his puppet and he was one of the major players in the dow market loss of $500B on 9/18/08 when palin and mccain had moved ahead of nobama in the race///then everything changed and now where are we///sh*t up the creek w/o a paddle
This man is an evil monster - the Frankstein to Barack Hussein Obama.
I didn't know either, I would of bought it (with a little help from my friends.)
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