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Soros cuts gold, B.of.A., boosts AT&T, Citi

By: Decomposed in ROUND | Recommend this post (0)
Tue, 17 May 11 9:12 PM | 48 view(s)
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Msg. 32979 of 45510
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Market Pulse
May 16, 2011, 7:03 p.m. EDT

Soros cuts gold, B.of.A., boosts AT&T, Citi

By Laura Mandaro

SAN FRANCISCO (MarketWatch) -- Soros Fund Management reduced its stake in gold exchange-traded funds and Bank of America Corp. shares in the first quarter, while adding to holdings of AT&T Inc. and Citigroup, Inc. according to a securities filing late Monday. Billionaire George Soros's hedge-fund firm reduced its holdings in Bank of America to 29,400 shares at March 31, from 1.19 million as of Dec. 31. It slashed its stake in SPDR Gold Trust to 49,400 from 4.72 million. It no longer disclosed a stake iShares Gold Trust; as of December, it held 5 million shares. Soros raised its stake in AT&T to 1.6 million shares from 1.1 million and its holdings in Citigroup, Inc. million from 10.7 million.

Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months

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