Saturday, 28 March 2015
Last updated 12 hours ago
Mar 2 2010 | 12:39pm ET
Gold may be a “bubble,” according to George Soros, but it’s been a profitable one for his Soros Fund Management. And not one that the hedge fund thinks will be bursting any time soon.
Soros more than doubled its bet on the precious metal in the fourth quarter, according to a regulatory filing. The $25 billion hedge fund boosted its investment in the SPDR Gold Trust by 152% over the last three months of the year, making it's the fourth-biggest investor in the exchange-traded fund.
Though the price of gold is down about 9% this year, it rose 21% during the fourth quarter, while Soros was buying up more than 2.4 million shares of the SPDR gold fund.
In January at the World Economic Forum at Davos, Soros called gold “the ultimate asset bubble.”
But Soros is not alone in thinking gold has farther to rise before its inevitable fall. Barclays, Goldman Sachs and HSBC all predict the metal will rise at least another 10% this year.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…