Soros: Gold Is Ultimate Asset Bubble

Soros Fund sold shares of gold etf but still holds the eqivilent of 16 tons. In January he said gold was the utimate asset bubble. Others are uber bullish.

http://www.bloomberg.com/news/2010-...-for-analysts-as-soros-s-bubble-inflates.html

 

Well, in January gold was at 1100 and now it is 1240ish.

It is hard to time a bubble short...

 

Who knows why he's saying this, but it's obvious he funds political interest that will lead to the investing outcome he wants. I wonder when the SEC will have the cajones to go after him like they did GS...probably never.

 

I believe he thinks the gold trade is reflexive. He will try to ride it up and then short it when he thinks the market or reflexivity has reached a top.

 

I don't know if they were still partners at the time but Rogers is on record for shorting gold at 700ish$ an ounce back in the seventies/eighties to see it rise to 850$ an ounce... after which it crashed and Rogers made a profit.

 

That sounds like Rogers, doesn't it? He said he never was a good trader.

 

I knew someone who was shorting gold around $300 on the way to $850 and some silver, too. Turned his $25,000 account into a MINUS $250,000 when silver locked limit against him.

 

Soros doesnt trade for his fund anymore. His views can differ from his trader's views