Thursday, May 17, 2012
Soros & Gold
His stake of 85,000 GLD shares during Q4 2011 grew to 320,000 at the end of March.
That’s still a far cry from the 4.67 million shares Soros held at the end of 2010. He dumped almost all of it in the following three months... when gold still traded between $1,340-1,440. Even at today’s “relatively” depressed price, that looks like a bad trade.
Soros also loaded up on J.P. Morgan Chase during the first quarter. Yeah, that’s working out really well right now.