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.
Read all the latest news about Soros at Global Investing Today:
George Soros and Investing news – http://investing.einnews.com/news/george-soros-investing
Located at http://investing.einnews.com, Global Investing Today is a service of EIN News, an industry leader in news monitoring for business professionals and analysts. Using a combination of proprietary search technology and human editing, EIN News delivers to its members the latest investing news from around the world, saving them valuable time they’d spend searching for information. New users to Global Investing Today can enjoy a no-obligation, one-week free trial.
About EIN Presswire
The EIN Presswire press release distribution service is a news-syndication solution that distributes news to more than 10 million visitors annually at EIN News and millions more through its press release distribution partners. A news source for leading journalists, decision-makers and industry professionals worldwide, EIN Presswire targets press releases to a wide array of worldwide business professionals in more than 80 different industries. EIN Presswire also offers affiliate network opportunities and news distribution to tens of thousands of news subscribers daily. Read the newest business news at http://www.einpresswire.com and the latest world news in more than 80 different industries at http://www.einnews.com.