I get a call from a close friend in NYC last Friday. His career has been in private wealth management in the private bank department of the Too Big To Fail banks. He’s been looking for work and chats with old colleagues all the time. He called my Friday and told me he just got off the phone with a very high level private banker from a big Euro-based TBTF [...]
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Billionaire hedge funder John Paulson, who famously bet against the subprime housing market, is reportedly weighing a move to Puerto Rico to take advantage of a new tax law there, Bloomberg News reported citing unnamed sources familiar with his plans.
According to Bloomberg News, the new law makes it so new residents pay no local or U.S. federal taxes on capital gains. The law firm of Adsuar Muniz Goyco Seda & Perez-Ochoa has a breakdown of the new tax law. On January 17, [...] Thought you might be interested in this exclusive just out from Bloomberg News: an in-depth look at Bermuda reinsurance companies recently set up by some of the biggest U.S. hedge fund managers, structured to protect gains on hedge-fund investments from U.S. taxes.
Paulson Leads Funds to Bermuda Tax Dodge Aiding Billionaires By Zachary R. Mider http://bloom.bg/WKKjuz
Last year, about $450 million belonging to top executives at billionaire hedge fund [...] Billionaires Dumping Stocks, Economist Knows Why Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast. Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft [...] From Bloomberg: Billionaire investors George Soros and Louis Moore Bacon cut their stakes in exchange-traded products backed by gold last quarter as futures dropped the most in more than eight years. John Paulson maintained his holding. Soros Fund Management LLC reduced its investment in the SPDR Gold Trust, the biggest fund backed by the metal, by 55 percent to 600,000 shares as of Dec. 31 from three months earlier, a U.S. Securities [...] by GoldCore Today’s AM fix was USD 1,629.25, EUR 1,221.42 and GBP 1,052.01 per ounce. Silver is trading at $30.26/oz, €22.80/oz and £19.61/oz. Platinum is trading at $1,692.50/oz, palladium at $759.00/oz and rhodium at $1,225/oz. Gold in USD (1 Year) Gold dropped $7.40 or 0.45% yesterday and closed at $1,635.60/oz. Silver finished with a loss of 1.04% at $30.45/oz. Gold’s decline was [...] Billionaires Dumping Stocks, Economist Knows Why Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast. Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft [...] Calling it the largest donation ever to a park in the U.S., New York City on Tuesday announced that hedge fund billionaire John Paulson had donated $100 million to the nonprofit that maintains Central Park. Mayor Michael Bloomberg joined Paulson and others at a ceremony at the park’s Bethesda Fountain Tuesday morning. “Central Park is the most deserving of all of New York’s cultural institutions,” Paulson told reporters. “And I wanted the [...] Billionaires Dumping Stocks, Economist Knows Why Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast. … With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome. Unfortunately Buffett isn’t alone. Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing [...] We All Know That We Are Heading Toward A Massive Market Correction, But Won’t Exit Until Last MinuteA Veteran Investor Described The Market By Sending Us This Picture A longtime investor, with whom we regularly communicate, described the market to us in an email today by sending along this picture. Well then! For a more wordy description of the market, we think Sebastien Galy of SocGen captures what a lot of investors are thinking. He sent this out in a client note tonight: We are in an overshoot, we all know that we [...] From Hard Assets Investor: You’d think a couple of billionaires could choose the right gold exchange-traded fund (ETF). It seems like every quarter when hedge fund 13F filings are released, we get stories about how John Paulson or George Soros upped their stake in GLD. The question I wonder about is, Why? I’m in no position to question the logic behind Paulson’s, Soros’ or even the Teacher Retirement System of Texas’ investments in gold. [...] by GoldCore Today’s AM fix was USD 1,657.00, EUR 1,320.21 and GBP 1,046.48 per ounce. Silver is trading at $30.78/oz, €24.63/oz and £19.50/oz. Platinum is trading at $1,528.25/oz, palladium at $631.80/oz and rhodium at $1,025/oz. Gold fell $11.10 or 0.67% in New York yesterday and closed at $1,656.10. Silver slipped to a low of $30.55 and rallied back and forth then [...] Whispers on Wall Street: Major Financial House Is Going to Implode… Could It Be Morgan Stanley?
Mac Slavo
Before the collapse of mega behemoth Bear Stearns there were rumors that a major Wall Street firm had bitten off more than it could chew. Mainstream media, for the most part, completely ignored the rumors, with some financial experts like CNBC’s premier Wall Street insider Jim Cramer literally screaming at viewers on [...] In this morning’s Wall Street Daily column, I shared an attractive takeover target for investors to consider. But it doesn’t make sense for conservative, income-oriented investors to chase after these returns. Not when there’s a way to profit from takeovers in a much more reliable and safe manner. I’m referring to the strategy known as merger arbitrage, whereby we wait until after a takeover announcement is made. This is, of course, a [...] by Michael
Are you willing to bet against three of the wealthiest men in the entire world? Jacob Rothschild recently betapproximately 200 million dollars that the euro will go down. Billionaire hedge fund manager John Paulson made somewhere around 20 billion dollars betting against the U.S. housing market during the last financial crisis, and now he has made huge bets that the euro will go down and that the price of gold will go [...] Paul Joseph Watson If the actions of Lord Jacob Rothschild are anything to go by, the long predicted collapse of the Euro may not be far away, with the banking titan placing a $200 million dollar bet against the troubled single currency. “Lord Rothschild, an elder member of the dynastic Rothschild banking family, has taken the position against the euro through RIT Capital Partners, the 1.9 billion [...] Richard Russell, author of Dow Theory Letters – the world’s longest-running daily investment letter – devoted a relatively large portion of his latest edition to gold’s role in the global financial system. Russell, who has been bullish on gold for most of the past decade and encouraged his subscribers to invest in gold near the start of yellow metal’s bull market in 2001, reiterated his positive outlook in light of news [...] Money Morning Staff reports Billionaire investors George Soros and John Paulson dramatically increased their gold stakes this month, as market analysts fear economic dangers lay ahead. Paulson purchased 4.53 million shares of SPDR Gold Trust for his $21 billion hedge fund Paulson & Co. That leaves a whopping 44 percent of Paulson’s U.S. traded equities tied to bullion. On the same day, the Soros Fund Management revealed it more than doubled its shares [...]
We all know that nothing – and I mean nothing – jolts a stock higher than an unsolicited takeover offer. Prices jump 26%… 45%… even 67%, in a single day. Just ask shareholders of Motorola Mobility. When Google (Nasdaq: GOOG) announced it was acquiring the company in August 2011, shares rocketed 58% higher. The tricky part, of course, is successfully identifying takeover targets before a deal is announced. For conservative, income-oriented investors – [...] KWN Today acclaimed money manager Stephen Leeb spoke with King World News about a coming move in gold to $12,000 and a mania in the gold shares. Leeb, who is Chairman of Leeb Capital Management, had this to say:“It’s already been reported that John Paulson and George Soros have just increased their gold holdings. Paulson, in particular, is really betting the house on gold. I believe gold now comprises 44% of Paulson’s fund. [...] Billionaire John Paulson raised his stake in an exchange-traded fund tracking the price of gold while selling other stocks during the second quarter, leaving his $21 billion hedge fund with more than 44 percent of its U.S. traded equities tied to bullion. Paulson & Co. purchased an additional 4.53 million shares of the SPDR Gold Trust, the firm’s largest position, and bought more shares of NovaGold Resources Inc. (NG), according to a Form 13F [...] Soros and everyone else are getting set up for the collapse of the EURO. Once this happens the stage will be set. via theblaze: “We notice that it’s becoming increasingly difficult to sell Asians and Americans on investments in Europe,” asset manager Vorndran told Spiegel, adding that although the U.S., Japan, and the U.K. “are all lying in the same hospital ward,” as he puts it, “it’s still better to invest in a [...] From The Stock Sage: The tension is building, can you feel it? Spanish bond yields are soaring to euro area all-time highs and CDS on Spanish debt is blowing out… Sentiment is pervasively bearish and the guy who hasn’t been able to do much of anything right during the last two years says there is a 50% chance that the euro will unravel over the next two years: “John Paulson Said to See [...] |
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