The Phaserl


This Billionaire Just Bought 400% More Gold

by Shaun Connell, Seeking Alpha:

A few weeks back, I wrote an article asking Is George Soros Wrong About Gold? He made waves a couple of years ago by claiming that gold is the “ultimate asset bubble,” only to then invest heavily in gold.

Last year, he made a lot of cuts to his position, easily missing the heavy correction that occurred mid-to-late 2011. But now? He’s getting back in the game.

According to Fox Business, George Soros’ hedge fund just quadrupled it’s holding in SPDR Gold Trust (GLD), and even opened a new position in call options for Newmont Mining (NEM).

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