Forum Home | Log in | Signup | My Page | Rules | FAQ | Boards | Members | Search
« ROUND Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Re: Paulson Steps Up Gold Bet to 44% of Firm�s Equity Assets

By: capt_nemo in ROUND | Recommend this post (0)
Wed, 15 Aug 12 5:52 PM | 45 view(s)
Boardmark this board | De's Test Board 		Msg. 43346 of 45651
(This msg. is a reply to 43342 by Decomposed)
Jump:
Jump to board:
Jump to msg. #

George Soros more than doubled his shares in the SPDR gold trust ETF. He increased his position in SPDR Gold to $137.3 million in the second quarter from $52 million previously. SEC filing for the second quarter showed Soros Fund Management more than doubled its investment in the SPDR Gold Trust from 319,550 shares to 884,400 shares at the end of June. In September 2010 (see chart), Soros called gold "the ultimate bubble" and largely dumped his stake in the ETF before gold recorded annual gains in 2010 and 2011 and rose to a nominal high of $1,920.30 per ounce in September. There was speculation at the time that he may have sold the SPDR trust in order to own far safer allocated gold bars. Another billionaire investor respected for his financial acumen is John Paulson and Paulson & Co increased its holdings by 26% by purchasing an additional 4.53 million shares of the SPDR Gold Trust to bring entire holding to 21.8 million shares. It was the first time Paulson & Co had increased its position in the SPDR Gold Trust since the first quarter of 2009, when the investment firm initially acquired 31.5 million shares. It means that Paulson's $21 billion hedge fund now has more than 44% of the company's assets allocated to gold.

Tweet

Comments: 65
Reads: 3,382

http://www.zerohedge.com/news/soros-gold-action-speaks-louder-bubble-words




Avatar

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.




» You can also:
- - - - -
The above is a reply to the following message:
Paulson Steps Up Gold Bet to 44% of Firm’s Equity Assets
By: Decomposed in ROUND
Wed, 15 Aug 12 3:58 PM 		Msg. 43342 of 45651

Paulson Steps Up Gold Bet to 44% of Firm’s Equity Assets

By Miles Weiss and Kelly Bit - Aug 15, 2012 12:00 AM
Bloomberg.com

Uploaded Image

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 filed yesterday with the U.S. Securities and Exchange Commission. Gold prices posted their biggest declines since 2008 last quarter.

While Paulson trimmed his stake in AngloGold Ashanti Ltd. (ANG) and Gold Fields Ltd. (GFI), sales of energy, financial and auto-parts stocks boosted the relative weighting of gold-related securities in his U.S. stock portfolio to the highest in three years. That’s making the fund more vulnerable to declines in the price of bullion as the hedge-fund manager struggles to reverse record losses last year.


More: http://www.bloomberg.com/news/2012-08-15/paulson-steps-up-gold-bet-to-44-of-firm-s-equity-assets.html

« ROUND Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next