Thursday, May 17, 2012

Soros & Gold

George Soros quadrupled his gold exposure in the first quarter, according to his latest 13-F filed with the SEC.
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.

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