Tuesday, 21 October 2014
Last updated 10 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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...