Soros Betting Hard Against Fiat Currencies And Pouring Into 'The Ultimate Bubble'

sorossmall

George Soros’s Soros Fund Management charged into gold during the fourth quarter, doubling its stake in the world’s largest gold ETF.

Note that he did this despite the fact that gold prices had already run up substantially by 4Q.

It’s also despite the fact that in Davos he recently said that gold was the ‘ultimate asset bubble’ and that there was ‘no alternative to the dollar‘.

These are the actions of a true trend trader, it seems:

Bloomberg has the details

The $25 billion New York-based firm became the fourth- largest holder in the SPDR Gold Trust, adding 3.728 million shares valued at $421 million, according to a filing with the U.S. Securities and Exchange Commission yesterday. Its investment was worth about $663 million, the fund’s largest single investment, as of Dec. 31.

Bonus: Here’s the 20 countries that are REALLY on the verge of a sovereign debt crisis >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.