SOROS UNLOADS STOCKS, BUYS GOLD

[joe bloe]

Originally Posted by Roothead

As a retired (and resurrected) ibanker for JPM in NYC, London and Hong Kong, for 20+ yrs, nothing surprises me.... the dollar will continue to be a safe haven and when Israel bombs the Iranian nuclear facilities, funds will coming running to treasuries and corp bonds..... gold will go up and he will ride the wave and then dump it to lock in profits

I think Soros's investment in gold may very well be an indication of his strategy to profit from Israel's likely strike on Iran. This is probably a pretty good indication that Soros believes Israel will be bombing Iran soon. I'll bet Soro's intelligence sources are excellent.

[Texas Contrarian]

Originally Posted by joe bloe

I'll bet Soro's intelligence sources are excellent.

It's certainly true that "The Palindrome" does appear to have benefited from reliable sources of information here and there.

However, I think it's more likely than not that any "inside information" he may have involves events related to upcoming actions of central banks around the world, rather than possible military action against Iran's nuclear program. But if military action is taken, perhaps he could get a "twofer!"

[Whirlaway]

Breakup of euro..

[Texas Contrarian]

Originally Posted by Whirlaway

Breakup of euro..

Possibly, but a number of very bad outcomes are likely even if the eurozone (as a currency union) is saved.

[JD Barleycorn]

Real simple solution fast gunn, have a debit card tied to your gold account. You can carry it anywhere just like your regular debit card.

[TexTushHog]

Originally Posted by Whirlaway

Soro's recently sold all of his equity positions in major financial stocks and bought $130 million in gold...a harbinger of what may becoming?

Do you have a cite for that? Especially the part about selling "all of his equity positions." And if he bought $130M in gold, what did he do with the rest of the money? He's worth around $20B. Even if true, The fact that he put 6/10 of 1% of his assets in one investment doesn't mean much.

[Munchmasterman]

Originally Posted by Whirlaway

Note that the OP clearly stated Soto's dumped financial holdings...
Doubtful he bought any of Obama 's junk GM, Soros is smarter than that.

I note the OP clearly stated your opinion and is being used as a reference by the original poster himself in a later post. Without a single link as usual.
You stated he dumped all of his equity positions.
Can no lie, unsubstantiated story or incorrect analysis teach you to find facts before you post?
Just like Fox "News", you have no accountability
You leave the forum floor looking like the ground under a tree full of grackles.
Covered with shit.

[Whirlaway]

Munchmouth your a lame one.....the original post clearly says Soros dumps FINANCIAL equities. ...learn to read,, better, sober up before you start posting.....

Doubt the post if you want...makes you the fool.

[chefnerd]

Actually, he made quite a number of changes to his holdings including dumping quite a few oil and gas drilling companies and a fair number of IT companies. Also, his gold position is not all brand new. He actually increased his position from $51.8 million to $137.3 million in the SPDR Gold Trust which is an ETF. Oh, btw Whirly, Soros holds slightly over a million shares of Government Motors according to his 13F filing for June.

[TexTushHog]

So he has 0.6% of his net worth in gold. That's like whirly buying a Hershey bar and calling it a major investment in chocolate!!

[Whirlaway]

Soros could have bought hershey chocolate; but he didn't, he bought GOLD.......

I never used the phrase "major investment"......read more closely.....

[Whirlaway]

Good info Chefnerd; thanks for sharing.......interesting that Soros has 1 mil shares of GM......I did read (yesterday WSJ) that GM has worked out some deal with the European labor unions that is going to save them a ton of money going forward........but not sure how that translates into better stock prices for GM.

Originally Posted by chefnerd

Actually, he made quite a number of changes to his holdings including dumping quite a few oil and gas drilling companies and a fair number of IT companies. Also, his gold position is not all brand new. He actually increased his position from $51.8 million to $137.3 million in the SPDR Gold Trust which is an ETF. Oh, btw Whirly, Soros holds slightly over a million shares of Government Motors according to his 13F filing for June.

[Guest050715-1]

I sold my entire stock portfolio at the end of the Clinton administration and bought gold 15 years ago. I've sold some this year, but I still have quite a bit.

[Guest030824]

Bought gold at $860 an ounce and now it is at $1600. I bought silver at $30 an ounce and it went up until Soros sold his off and the price is down to $30 again. Gold and silver is a good investment as Uncle Sam has no finger in the transaction. All transactions are in cash no records no taxes. I always buy the Krugerrands they are 1oz gold coins and easy to transport and sell.You generally pay a 1% charge to buy and a 1% charge to sell. So if the price increases 2% you are even. Any thing above that is profit.

[WTF]

Originally Posted by TexTushHog

So he has 0.6% of his net worth in gold. That's like whirly buying a Hershey bar and calling it a major investment in chocolate!!