George Soros’s Soros Fund Management charged into gold during the fourth quarter, doubling its stake in the world’s largest gold ETF.
Note that he did this despite the fact that gold prices had already run up substantially by 4Q.
It’s also despite the fact that in Davos he recently said that gold was the ‘ultimate asset bubble’ and that there was ‘no alternative to the dollar‘.
The $25 billion New York-based firm became the fourth- largest holder in the SPDR Gold Trust, adding 3.728 million shares valued at $421 million, according to a filing with the U.S. Securities and Exchange Commission yesterday. Its investment was worth about $663 million, the fund’s largest single investment, as of Dec. 31.