in the mean time, just cleared from e-mail tray
From: J
Sent: Wed, May 18, 2011 7:41:20 AM
Subject: Re: Soros Dumped Most of Gold Stake: SEC Filing
hi s,
shorting stocks into a presidential election cycle should not be tried
long stocks into a minus (-) qu2 shit storm may not work well
at this juncture my operating principles are:
(i) conviction circa 2009 march is one thing. conviction now may be a death sentence - avoid death sentence
(ii) the man with the map on the field of battle is the one who shall get us killed. do not follow.
(iii) why be convicted? time for a break. qe3's dawn would require dry powder to call on, so keep powder dry
(iv) as w/ happy hour or first date, for the long game, when i feel too good, time to de-camp; and i feel good enough already, so go.
(v) when one cannot sleep, one cannot think, so exit until sleep-point; done
From: S
Sent: Wed, May 18, 2011 6:34:42 AM
Subject: RE: Soros Dumped Most of Gold Stake: SEC Filing
There is no question these are strange days. For the first time in 2.5 years I have no conviction either way. Kind of a vacuum
From: J
Sent: Tuesday, May 17, 2011 3:23 PM
Subject: Re: Soros Dumped Most of Gold Stake: SEC Filing
Like ... In april J sold 1/3 of paper gold, all of paper platinum, most of paper silver, and used profit to engage w/ au/pt physicals, n re-deployed capital to hk real estate.
If actions are interpreted as comment on 'price top' of au/ag/pt in any time horizon longer than a few months of qe twilight zone, the comment would be meaningless.
Metals shall rise.
From: C
Date: Tue, 17 May 2011 16:06:42 +0800 (SGT)
Subject: Re: Soros Dumped Most of Gold Stake: SEC Filing
SOME FACTS ON SOROS & OTHERS SALE OF GLD IN Q1
In 1Q2011 :
Soros sold 4,672,408 shares of GLD = 467,240 troy ounces
Eton Park sold 2,165,000 shares of GLD = 216,500 troy ounces
Goldman sold 2,096,045 shares of GLD = 209,604 troy ounces
Morgan St. sold 1,492,046 shares of GLD = 149,204 troy ounces
Blackrock sold 1,398,950 shares of GLD = 139,895 troy ounces
Paulson sold Z E R O shares of GLD = Z E R O troy ounces
TOP 6 SALES TOTAL = 1,182,443 troy ounces
Central Bank of Mexico bought 93.3 tons = 2,999,664 troy ounces
Kind regards
PS: I have not included what Indians, Chinese, & Russians bought !
From: W
Sent: Tuesday, 17 May 2011 15:43:53
Subject: RE: Soros Dumped Most of Gold Stake: SEC Filing
Reminiscient of Lord Rothschild visibly selling British gilts when all assumed he had advance knowledge of the outcome of Waterloo.
From: r
Sent: Tuesday, May 17, 2011 3:33 PM
Subject: Re: Soros Dumped Most of Gold Stake: SEC Filing
The fact that it is shouted from the rooftops by Reuters is more interesting than the clearly bearish intent-imho.
On May 17, 2011, at 12:25 AM, M:
Of course, Soros could have exchanged it for physical gold, bought futures in the US or elsewhere, and if he bought an ETF in Switzerland or elsewhere, would that require a filing with the SEC?
M
On Tue, May 17, 2011 at 3:22 PM, B wrote:
Soros Dumped Most of Gold Stake: SEC Filing
GOLD, METAL, COMMODITIES, GEORGE SOROS, SOROS FUND MANAGEMENT, SPDR GOLD TRUST, GLD, ISHARES GOLD TRUST, IAU, SHARES, STOCKS, SECURITIES AND EXCHANGE COMMISSION, SEC
Reuters
| 16 May 2011 | 06:59 PM ET
Billionaire investor George Soros's hedge fund dumped most of its gold holdings during the first quarter, according to a securities filing on Monday.
New York-based Soros Fund Management owned just 49,400 shares of the SPDR Gold Trust at the end of March, down from 4.7 million shares held at the end of December. A 5 million share stake in the iShares Gold Trust at the end of December disappeared completely from the latest filing.
The gold ETF positions were valued at over $774 million at the end of the fourth quarter, by far the firm's largest position at that time. At the end of the first quarter, the remaining gold position was worth less than $7 million.
The sales make sense given that Soros said he had bought gold because he was worried about deflation, said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Pittsburgh.
"It's pretty hard to make the case for deflation right now so if that was a reason you were buying gold, you should take this signal from Soros," he said.
Inflation is now the greater concern, Luschini said. So most investors should still keep about 3 percent to 5 percent of their assets in gold to protect against inflation and possible further problems in the world financial system.
Soros also slashed stakes in gold and silver mining companies during the first quarter. The firm owned 1.4 million shares of Kinross Gold at the end of the quarter, down from 4 million shares three months earlier. Holdings in Novagold Resources dropped to 3.5 million shares from 12.9 million.
And the filing included no listing for Pan American Silver after Soros reported owning 19,900 shares three months earlier. The disappearance typically means the stake was sold off completely, although firms occasionally can omit listing positions that are being actively traded.
A spokesman for the fund did not immediately respond to a call and email seeking comment about the filing.
The Wall Street Journal reported on May 4 that Soros had sold gold and silver investments built up over the previous year.
Copyright 2011 Thomson Reuters. Click for restrictions.
URL: cnbc.com
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