Soros Goes for Gold Despite Acknowledged Bubble
March 2, 2010 /EIN PRESSWIRE/ The Wall Street Journal reports that a number of elite hedge fund managers are predicting the fall of the Euro and that parity between the dollar and the euro is a real possibility.
One notable hedge fund investor, George Soros of Soros Fund Management, recently went as far as to warn that “the euro may fall apart,” the Journal reports.
If it’s not in euros, where is Soros putting his money? Bloomberg reports that it’s going to gold.
Soros’ fund has invested heavily in gold in recent months — despite the acknowledgment by Soros to a crowd at Davos in January that he thought the gold market was a bubble. Bloomberg reports that Soros’ fund increased its investment in SPDR Gold Trust by 152% in the fourth quarter, according to regulatory filings.
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