Interesting back n forth on this thread and thanks Pug, Pintahoo and Bug Gold.
I find it interesting regarding the way in which the original article post has kinda dissappeared in the backwash... however:
here is a great quote/snippet from the article posted:
The filing, made late Tuesday for the financial period ended Dec. 31, comes after Mr. Soros made comments during the World Economic Forum in Davos, Switzerland, in late January calling gold an asset bubble. He told media at the time that the low-interest-rate environment creates a condition for bubbles to develop and that gold is the ultimate bubble.
Mr. Soros has said in the past that when he sees a bubble he buys and the gold holdings at the end of 2009 seem to indicate that is what he did. A spokesman for Mr. Soros declined to comment on the filing.
For thoe screamers who wish to keep their minds closed... I reckon you should look at this statement bearing the following in mind.
Soros is a brilliant LARGE net wealth trader (this includes his fund).
Soros is quoted as saying Gold is in an asset bubble and he buys asset bubbles. He did what he says he does.
When you see him selling, yup prolly a good time to sell as well... Anyone seen him selling?
Now... just as a quick bit of info regarding asset bubbles...
check the awesom "value" growth of housing in the US before that asset bubble popped.
the growth didn't just hapen over one year or two years it happend over at least 5 and the wise investor buying into that asset bubble would have got in even earlier methinks.
and even if one bought the most bubbly real estate assets, apartments in california I beleive that as long as one had bought early enough, one could STILL get out with a profit.
What's my point?
I think that people are getting too excited about the term "asset bubble" and are too busy denying the "bubble" concept.
Lets say gold is in an asset bubble... The master of trading asset bubbles (Soros and his fund) whent long, bought into the bubble and bought in again at the start of the year (well the end of last year, near enough).
Do you reallly think that SOROS is about to dump the lot? particularly after an apparent mild correction?
Sheesh people get a grip this guy doesn't work on timespans of three months, and that is all the time that has passed since the last buy in.
The article and Soros's possy provides gold bugs (paper or physical) with Positive reinforcemnt if they are long.
