http://www.goldcore.com/us/gold-blog/soros-pig-accumulates-a-lot-of-gold/Stan Druckenmiller is going big on gold.
Druckenmiller is one of the world’s most successful and respected traders. As a hedge fund manager from 1986 to 2010, he generated an incredible average annual return of 30%.
Druckenmiller was also George Soros’s right-hand man at Quantum, Soros’s famed hedge fund. Quantum’s now legendary 1992 trade shorting the British pound was Druckenmiller’s idea. It made Quantum about $1 billion. People say the trade “broke the Bank of England.”
Most professional investors preach diversification. But Druckenmiller says he’s successful because he’s not afraid to concentrate his bets when he really believes in a trade. He calls it “being a pig.”
Druckenmiller’s fund recently bought $300 million worth of SPDR Gold Trust (GLD), an ETF that tracks the price of gold. It’s a huge bet, even for a big-time trader like Druckenmiller. He put 20% of his fund’s money into this trade, and it’s his largest position.
read someone the other day (can't remember who, maybe it was on here) said all the weak hands have already been shaken out, this is for the big playersI'll stay confident that the PTB still have more evil up their sleeves. They're not done shaking the tree just yet. It's still early in the year to let loose the Kraaken.
20%..., What a Pussy. :agree:Druckenmiller’s fund recently bought $300 million worth of SPDR Gold Trust (GLD), an ETF that tracks the price of gold. It’s a huge bet, even for a big-time trader like Druckenmiller. He put 20% of his fund’s money into this trade, and it’s his largest position.
I don't know if it will go down under 13 like it did about a year & 1/2 ago, but it's still under $20 so that seems reasonable to me, at least considering where gold is. Of course it could be that silver is priced correctly and gold is currently over valued. Even with platinum's recent rise back up, it's still way cheaper than gold. In my mind gold's value is out of whack in relation to silver & platinum, so it would seem to me that either gold is over valued & the others closer to correct, or gold is right & the others are a bargain. Who knows what our overlords behind the curtain are attempting to achieve & what levels of success or failure they will have & what that will do to prices of everything. aperbag:* bump *
So I've been a bit distracted for the last couple of weeks with Hurricane Harvey flooding our area and kids cooped up in the house and such. I really haven't been paying any attention to the markets or news like I usually do. I see that the metals are currently a bit higher than the ceiling of the range they had been trading in last I looked. Is the sale over?