Billionaire George Soros bet for gold and buys stake of US $ 264 million in Barrick Gold
Tuesday, May 17, 2016
Economics and Business Online
through its investment arm Soros Fund Management, the Hungarian billionaire controls 1.7% of the most important worldwide in terms of gold mining company opencast.
If yesterday was Warren Buffet who attracted the attention of investors by announcing its entry into the capital of Apple, on Wall Street today focuses focus on the figure of George Soros. The Hungarian billionaire who in 1992 was about to sink the pound has again bet on gold, shelter quintessential value.
According to Bloomberg, Soros has bought a stake 264 million dollars in Barrick gold, the largest gold bullion in the world. Through its investment arm Soros Fund Management, the Hungarian billionaire controls 1.7% of the most important worldwide in terms of gold mining opencast company.
In addition, it has acquired rights options to purchase 1.05 million shares in the exchange-traded fund SPDR gold Trust, a leading benchmark to consider to follow the gold price.
the Soros bet for gold matches speech that billionaire investor has recurred since the end of 2015, warning of a repeat of the financial crisis of 2008, this time with China at the epicenter.
As part of its strategy, has also chosen to reduce . notably its participation in the US stock exchange, where Soros has reduced by 37% its investments in the last quarter
Finally, has doubled its bet against the S & amp index; P 500 over the last quarter 2015. As revealed, has put options on the ETF SPDR S &. P 500 valued at 2.1 million shares
No comments:
Post a Comment