Soros Unloads All Investments in Major Financial Stocks; Invests Over $130 Million in Gold

[sailingaway]

Report: Soros Unloads All Investments in Major Financial Stocks; Invests Over $130 Million In Gold


In a harbinger of what may be coming our way in the Fall of 2012, billionaire financier George Soros has sold all of his equity positions in major financial stocks according to a 13-F report filed with the SEC for the quarter ending June 30, 2012.

Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly unloaded over one million shares of stock in financial companies and banks that include Citigroup (420,000 shares), JP Morgan (701,400 shares) and Goldman Sachs (120,000 shares). The total value of the stock sales amounts to nearly $50 million.

What’s equally as interesting as his sale of major financials is where Soros has shifted his money. At the same time he was selling bank stocks, he was acquiring some 884,000 shares (approx. $130 million) of Gold via the SPDR Gold Trust.

more at link

http://www.shtfplan.com/headline-news/report-soros-unloads-all-investments-in-major-financial-stocks-invests-over-100-million-in-gold_08162012

[Zippyjuan]

He also bought Facebook stock: http://articles.marketwatch.com/2012-08-14/markets/33196803_1_soros-fund-spdr-gold-trust-exits

NEW YORK (MarketWatch) -- Billionaire investor George Soros's Soros Fund Management LLC exited its stakes in Goldman Sachs Group Inc. (US:gs) and J.P. Morgan Chase & Co. (US:jpm), while it significantly boosted its stake in the SPDR Gold Trust (US:gld), the gold exchange-traded fund, according to a regulatory filing on Tuesday. The Soros fund didn't have stakes in J.P. Morgan and Goldman as of June 30. The fund acquired 341,000 shares in social-networking company Facebook Inc. (US:fb), which has seen its share price tumble after the company's initial public offering in May. As of June 30, the S

[oyarde]

Well , the gold sounds better than facebook , JP Morgan , Goldman Sachs and Citigroup.....

[Cowlesy]

John Paulsen (who has seen better days with his funds) also backed up the truck buying gold recently.

[Athan]

Well, yes the facebook one collapsed on his face though thus far. The gold move however shows that some serious evaluation has been done on his money. He's trying to protect it and doing exactly the oppisite of what he has proposed in the past. The damned hypocrite. This is also another move towards gold by serious investors.