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 [...]
George Soros made almost $1 billion since November from bets that the yen would tumble, according to a person close to the billionaire’s $24 billion family office.
The Japanese wager helped the firm return about 10 percent last year and 5 percent so far this year, said the person, who asked not to be named because the firm is private. The yen has weakened 17 percent versus the dollar since about the [...]
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. [...]
News of the investment, made via Soros Fund Management, was released in an SEC filing after the closing bell rang on Wall Street today. The 82-year-old now owns 3,114,588 shares in the team but carries almost no voting power and will receive no dividend, thanks to the structure of the club’s flotation.
Manchester United floated 16.7m shares in New York at $14 each on August 10, giving it a total valuation of $2.3bn [...]
Paul Joseph Watson
Monday, August 20, 2012
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 [...]
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 [...]
Soros Gold Action Speaks Louder Than Trumpeted ‘Bubble’ Words
Today’s AM fix was USD 1,594.75, EUR 1,293.60, and GBP 1,016.74 per ounce.
Yesterday’s AM fix was USD 1,614.50, EUR 1,305.60 and GBP 1,028.34 per ounce.
Silver is trading at $27.70/oz, €22.65/oz and £17.74/oz. Platinum is trading at $1,401.25/oz, palladium at $571.75/oz and rhodium at $1,060/oz.
Gold dropped $8.70 or 0.54% in New York yesterday and closed at $1,599.60/oz. Silver climbed higher before retreating to [...]
Europe has 3 months to address crisis: Soros
By Deborah Levine, MarketWatch
NEW YORK (MarketWatch) — The European Union has three months to address its financial crisis before the markets stop giving it time, but in the end the euro is likely to remain, said George Soros, chairman of Soros Fund Management LLC.
Europe is struggling with a fundamental flaw of its original design: that’s it’s a monetary and economic union but not [...]
Jonathan Soros intends to set up his own family office with chief risk officer for the Soros Fund, David Kulsar
He stepped down from day-to-day management of his father’s firm last September
Comes after a year of significant losses at the $25 billion firm
The upheaval within billionaire investor George Soros’ firm continues as one of his sons is separating some of his personal fortune to manage it himself.
Jonathan Soros, who stepped down [...]
by S. E. Robinson
George Soros, T. Boone Pickens, Kevin G. Douglas and companies under their control stand to reap the rewards of billions of taxpayer dollars in subsidies contained in a Democratic-sponsored measure set for a vote this week.
The legislation, authored by Sen. Robert Menendez (D-N.J.), would amend the much-ballyhooed highway bill to include the New Alternative Transportation to Give Americans Solutions act, or NATGAS act. The act would provide subsidies [...]
By Brenda Cronin, WSJ
The world financial system not only isn’t functioning, it’s on the brink of collapse, according to investor George Soros.
George Soros, founder of Soros Fund Management LLC
The Hungarian-born philanthropist, who recently spent time in countries where his charities are active, such as Africa, said he sees a growing bifurcation between emerging and developed countries – and he’s more confident about prospects for the emerging ones.
Despite their assorted problems, [...]
BOSTON (TheStreet) — George Soros, the billionaire hedge-fund manager and philanthropist best known for breaking the Bank of England in 1992, will return capital to investors in order to avoid reporting requirements under the Dodd Frank reform act.
Soros will return money to investors by the end of the year, Bloomberg reported Tuesday, citing two people briefed on the matter. Soros Fund Management will focus on [...]
George Soros, the billionaire best known for breaking the Bank of England, is returning money to outside investors in his $25.5 billion firm, ending a career as hedge-fund manager that spanned more than four decades.
Soros, who turns 81 next month, will hand back the money, less than $1 billion, by the end of the year, according to two people briefed on the matter. His [...]
If you’re simply looking at their public statements, Wall Streeters seem to be alarmed about the debt crisis, but don’t appear to be sliding into panic mode.
In fact, they’re just really good actors.
Across the financial sector, many are preparing for a debt doomsday scenario, in which the U.S does in fact default, the New York Times reports.
Firms are “taking steps to reduce the risk of holding Treasury bonds [...]
What Bloomberg would never dream of saying, even though it screams out from this story, is that the gold ETF market is a paper market, in which “ETPs trade on exchanges with each share representing metal held in a vault” is actually untrue, (it’s a scam based on the same principle as fractional reserve banking) and will cause a market meltdown if everyone wants to take [...]
April 15 (Bloomberg) — Gold gained to a record and silver climbed to the highest level in 31 years as inflation in China accelerated more than forecast, underscoring the challenge that central bankers worldwide face in combating rising prices.
Immediate-delivery bullion, which has rallied every year since 2001, gained as much as 0.4 percent to $1,479.35 an ounce and was at $1,476.20 at 10:32 a.m. in [...]
By Pham-Duy Nguyen and Yi Tian
Jan. 31 (Bloomberg) — The â€œcapitulationâ€ in gold that drove the metal to its worst January in 14 years may be ending as escalating violence in northern Africa spurs demand for a haven and after a key technical indicator held.
Futures traded on the Comex exchange in New York jumped 1.7 percent on Jan. 28, the most since Nov. 4, as thousands [...]
Soros Gold Bubble Expanding as ETP Holdings Increase
Goldâ€™s 23 percent surge this year to a record is proving no deterrent to George Soros, John Paulson and Paul Touradji, whose investments signal more gains for the longest winning streak in at least nine decades.
Securities and Exchange Commission filings this month by Soros Fund Management LLC, Paulson & Co. and Touradji Capital Management LP listed investments in gold as their biggest holdings. [...]