He’s still got it. According to this week’s filings, George Soros has made a graceful exit from gold having sold all 4.5 million shares of his GLD position during the first quarter.
Bloomberg chronicles his public commentary on the gold trade during his holding period from early 2010…
Soros described gold in January last year as “the ultimate asset bubble.” In a Nov. 15 speech, the 80-year-old investor said that conditions for the metal to keep rising were “pretty ideal,” and in January this year, he said the boom in commodities may last “a couple of years” longer.
Soros announced a few very small buys of Freeport MacMoRan and miner Goldcorp, so he’s not completely done with the metals trade just yet.
Bravo Mr. Soros.