George Soros dumped $US800 million stake in gold bullion. Good News?

Discussion in 'Gold' started by lookingaround, May 17, 2011.

  1. lookingaround

    lookingaround New Member

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  2. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    here there everywhere
    I hope he chokes on all his greenbacks
     
  3. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    There is nothing good about that man.
     
  4. Blockhead

    Blockhead Active Member

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    "I dont understand Gold anyway all we do is spend millions trying to find something then melt it into bars and store it underground where it came from in the first place!!"

    comments sections rule. informed opinion.
     
  5. hawkeye

    hawkeye New Member Silver Stacker

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    Irrelevant in the grand scheme of things.

    His loss...

    EDIT: Although thinking about it, I guess he was just taking profits after the big run up. Maybe he thinks it's going into a slow consolidation phase so is ducking out for awhile...
     
  6. Dwayne

    Dwayne New Member

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    Exactly. Nothing worth getting upset about.
     
  7. fishball

    fishball New Member Silver Stacker

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    His loss, our win. People with weak hands will follow Soros and sell and push the price of Gold down slightly so we can all hoard more :).

    $800 million isn't much either in the grand scheme of things, central banks are buying in billions(!) of this stuff in a month.
     
  8. Guest

    Guest Guest

    Good on him

    REDBACK
     
  9. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    Followed one of his Quantum funds on an ASX-listed security, barely got out in time before it dropped over 15%. Still made a profit though.

    They still hold 10%+ of the stock so its not likely they were shorting it (unless some Twilight-Zone-derivative was involved).

    My point is, Soros may look invincible but may be there may be a few kinks in that armor.
     
  10. Bulawan pilak

    Bulawan pilak New Member

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    It'd be interesting to know where he put all that money.......
     
  11. projack

    projack Well-Known Member Silver Stacker

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    Since he sold his gold in the 1st quarte the price never has been bellow on his selling price. Actually went up more the in the following few wees than the entire pervious 12 month earlier.
     
  12. silverwink

    silverwink New Member

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    The article (and the post heading) are misleading. He sold his shares in GLD, not bullion. Just like the reporting before when he said that gold was the 'ultimate bubble', he did not say it was in a bubble at that time, which is the way the media reported his statement.
     
  13. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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    $800 mill of paper gold is aroudn 533k oz of paper gold oz.

    He probably used the proceeds of the sale to buy
    500k oz of physical gold. :)
     
  14. Guest

    Guest Guest

    I don't trust Soros for some reason.
     
  15. zurnaik

    zurnaik Member

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    Maybe he had a few bills due :)
     
  16. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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    In my opinion he is sooo smug that he makes Gillard look like a 12 year old Catholic School Girl
     

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