Monday, May 16, 2011

Soros sells Gold

So, Soros (the fund) sold most of its gold holdings, approximately 99% of its total holdings. Does that mean he is bearish? It's important to understand data and for a while I thought of why such a big gold bull would sell so much of his holdings...
And then I read this paragraph, "Money managers who oversee more than $100 million in equities must file a Form 13F with the Securities and Exchange Commission within 45 days of each quarter’s end to show their U.S.-listed stocks, options and convertible bonds. The filings don’t show non-U.S. securities or how much cash the firms hold."
So if Soros has decided to hold physical gold inside or outside the US or some other non-US gold security, he wouldn't disclose it. There are inhibitions towards an ETF holding gold which I ought to own, and there are merits to holding gold in physical form. Absolute certainty to the value of physical gold.

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