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Next President of the United Fates of America
The George Soros article on buying gold is interesting.
I was curious as to ... how much gold did he buy.
This happenned back in mid May.

Quote:Gold bull John Paulson slashed his bets on bullion  Naughty
while billionaire investor George Soros Hmm2
and other big funds returned to the metal for the first time in years, 
filings showed on Monday, 
as prices staged their biggest rally in nearly 30 years.

New York-based hedge fund Paulson & Co, led by John Paulson, 
one of the world's most influential gold investors, 
slashed its investment in SPDR Gold Trust, 
the world's biggest gold exchanged-traded fund (ETF), by 17 percent to 4.8 million shares, 
U.S. Securities and Exchange Commission filings showed on Monday.

It was Paulson's third cut to his SPDR stake in a year 
and saw him drop to the third largest investor in the fund from second, 
behind BlackRock and First Eagle Investment Management.

Paulson's view on gold has been closely followed 
since he earned roughly $5 billion on a bet on the metal in 2010, 
following a similarly successful $4 billion payday on his bet against the overheated housing market in 2007.

In stark contrast, Soros who once called gold "the ultimate bubble," 
returned to gold for the first time in three years 
in the quarter buying 1.05 million shares in the gold ETF, valued at about $123.5 million.

The Soros fund returned to invest in Barrick Gold Corp after unwinding its stake in the company 
in the third quarter of last year.

It bought nearly 19.4 million shares in Barrick Gold at a value of $263.7 million, the filing showed.

Quote:Soros, who built a $24 billion fortune through savvy market wagers, 
has warned of risks stemming from China, 
arguing its debt-fueled economy resembles the U.S. in 2007-08 at the onset of the global financial crisis. 

In January, the former hedge fund manager turned philanthropist 
said a hard landing in the Asian nation was “practically unavoidable,” 
adding that such a slump would worsen global deflationary pressures, 
drag down stocks and boost U.S. government bonds.

Soros’s former chief strategist, billionaire investor Stan Druckenmiller, is also bullish on gold. 

Earlier this month he called the yellow metal his largest currency allocation 
as central bankers experiment with the “absurd notion of negative interest rates.”

Gold for immediate delivery jumped 16 percent in the first three months of the year, 
the biggest quarterly surge since 1986, 
according to Bloomberg generic pricing. 
Shares of Toronto-based Barrick have more than doubled this year 
as the miner accelerates cost-cutting efforts and reduces debt. 
Barrick is up 39 percent since March 31.

Soros sold a stake in Level 3 Communications Inc. which was worth $173 million as of Dec. 31 
and a holding in Dow Chemical Co. that was worth $161 million, 
according to the filing. 
The family office also divested its stakes in Endo International Plc and Delta Air Lines Inc.


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RE: Next President of the United Fates of America - by Vianova - 06-10-2016, 02:33 AM

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