I'll buy it.
Soros says sell gold
- Thread starter Graemsay
- Start date
not now - during the bubble - hence the "taxi driver" bit.
soros is king at spotting bubbles.
soros is king at spotting bubbles.
Common knowledge Al Quaida and their financiers play the markets in conjunction with their terrorist attacks. Trouble is, CIA have got better at following money trails.
There have been a few articles in the press confirming that Soros has big gold holdings, so my guess is that he's trying to ride the bubble for the time being in the hope of selling out before the top.
Then again, the filings that revealed his position are a few months old, and he might have sold out already...
Then again, the filings that revealed his position are a few months old, and he might have sold out already...
soros spots bubbles. it's his investment style. it's what he does.
Another one for Hobo Jo: Societe Generale's Dylan Grice thinks that it's not yet the best time to sell up on gold.
http://ftalphaville.ft.com/blog/2010/03/23/183461/when-to-sell-gold/
http://ftalphaville.ft.com/blog/2010/03/23/183461/when-to-sell-gold/
Soros or not Soros?
I have to tell you, I would take advice from Soros any time.
Not only because he is from my homeland, but he proved himself over and over again.
By the way look at others, like Frank Lovy (Westfield), Adler, Korda and Czukor (Hollywood), Vili (Vili's Pies), Nicholas Sarkozy, Biro (biro pen), Tungsram (light bulbs) etc. etc. All from the same contry and did pretty well.
Who knows what country I am talking about?
Anyway, back to the topic: I have been told to always follow those who already achieved, what I want to achieve. ... and if you have the chance to ask them to hold your hands, even better. Recipe for success.
We don't have to invent any wheels, others already done it just follow their footsteps.
I have to tell you, I would take advice from Soros any time.
Not only because he is from my homeland, but he proved himself over and over again.
By the way look at others, like Frank Lovy (Westfield), Adler, Korda and Czukor (Hollywood), Vili (Vili's Pies), Nicholas Sarkozy, Biro (biro pen), Tungsram (light bulbs) etc. etc. All from the same contry and did pretty well.
Who knows what country I am talking about?
Anyway, back to the topic: I have been told to always follow those who already achieved, what I want to achieve. ... and if you have the chance to ask them to hold your hands, even better. Recipe for success.
We don't have to invent any wheels, others already done it just follow their footsteps.
Hungary?
But Lowy is Czechoslovakian, fled to Hungary during WWII before fleeing again to Palestine after the war (if my memory of his biography is any good).I was browsing through the dailyreckoning.com site the other day.
Now this site has been known for pushing gold during the last decade and has been often quoted by the gold bugs.
But guess what their new trade of the decade is????????
short US treasuries, long Japanese stock market.
No more gold!!!!!!, at least not for a trade of the present decade.
Oppps i wonder if this will be conveniently ignored by the gold bugs.
Now this site has been known for pushing gold during the last decade and has been often quoted by the gold bugs.
But guess what their new trade of the decade is????????
short US treasuries, long Japanese stock market.
No more gold!!!!!!, at least not for a trade of the present decade.
Oppps i wonder if this will be conveniently ignored by the gold bugs.
Do you understand what they mean by trade of the decade?
I expect Gold to continue to rise into a bubble within the next 3-5 years, I don't plan on holding positions to the end of the decade (at least not significant ones as I have now) and to be honest I expect once again Gold will be battered down once it has reached it's bubble highs.
Anyway, so what if they didn't pick Gold as the trade of the decade (again), writers on the site still think it's going higher in the medium term...but then who follows the views of one crowd religiously anyway? Did you drop all other investments to get into their trade of the decade?
Marc Faber, who is even more bearish than the average Doom and Gloomer, thought that Japan is a smart buy right now.
The country's fiscal state isn't great, but I think that a punt on a general index tracker might not be a bad one. Residential property there is seriously undervalued too.
The country's fiscal state isn't great, but I think that a punt on a general index tracker might not be a bad one. Residential property there is seriously undervalued too.
You all know I'm a bear on the US but.......
This:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/20_Mike_Mish_Shedlock.html
by Mish Shedlock even shocked me.
Shorting the US$ is a no-brainer.
This:
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/20_Mike_Mish_Shedlock.html
by Mish Shedlock even shocked me.
Shorting the US$ is a no-brainer.
It really comes down to whether or not the financial system collapses, if the fiat currency is devalued badly gold and silver will be huge, but if the government integrates a new system or pulls another rabid out of the hat somehow this will be a mute point.
I view gold and silver more a currency play, do not see how this thing can collapse when they can continue to print money, or rewrite the rulebook whenever they like.
If gold or silver should skyrocket in price I get the feeling the window to sell will not be open long, after all if currency is becoming worthless what does it matter how much of it you have, at any given time cash could be worth squat, only intrinsic value items will be of any value and it will all revert to the mean fast, I have a genuine ten trillion dollar Zimbabwe note sitting right here worth about AU$5 right now.
You have to wonder though when governments are stocking up what they know that we don`t.
All the gurus say whatever suits them at the time, kiyosaki has been talking up gold, and now loudly proclaims that he warned about the real estate bubble, I must have missed when he said that.
Funny though one of his mates is selling gold and silver on his very pro collapse website, it is laughable.
I view gold and silver more a currency play, do not see how this thing can collapse when they can continue to print money, or rewrite the rulebook whenever they like.
If gold or silver should skyrocket in price I get the feeling the window to sell will not be open long, after all if currency is becoming worthless what does it matter how much of it you have, at any given time cash could be worth squat, only intrinsic value items will be of any value and it will all revert to the mean fast, I have a genuine ten trillion dollar Zimbabwe note sitting right here worth about AU$5 right now.
You have to wonder though when governments are stocking up what they know that we don`t.
All the gurus say whatever suits them at the time, kiyosaki has been talking up gold, and now loudly proclaims that he warned about the real estate bubble, I must have missed when he said that.
Funny though one of his mates is selling gold and silver on his very pro collapse website, it is laughable.
Just listening to the Mish interview. He's rather pessimistic...
The US budget deficit is currently running at the same level as Greece relative to its GDP, but national debt is about a year (at current rates) behind Greece's.
The UK is in a similar position, albeit a further year behind the US. In fact I saw an article suggesting that according to the budget forecasts, our national debt will double in the next five years. Every household is estimated to have a liability of £46,000 to cover the cost of unfunding public sector pensions.
Australia is looking like a very good option right now...
Would agree with Mish's comments that there simply isn't the political will to make cuts. Everyone (here in the UK) expects an emergency budget after the election.
On a related note, here's an article suggesting that there's nothing that's great to invest in right now. Gold, property, bonds all seem expensive.
http://www.independent.co.uk/news/business/comment/hamish-mcrae/hamish-mcrae-so-what-on-earth-should-investors-do-with-their-money-1928161.html
The US budget deficit is currently running at the same level as Greece relative to its GDP, but national debt is about a year (at current rates) behind Greece's.
The UK is in a similar position, albeit a further year behind the US. In fact I saw an article suggesting that according to the budget forecasts, our national debt will double in the next five years. Every household is estimated to have a liability of £46,000 to cover the cost of unfunding public sector pensions.
Australia is looking like a very good option right now...
Would agree with Mish's comments that there simply isn't the political will to make cuts. Everyone (here in the UK) expects an emergency budget after the election.
On a related note, here's an article suggesting that there's nothing that's great to invest in right now. Gold, property, bonds all seem expensive.
http://www.independent.co.uk/news/business/comment/hamish-mcrae/hamish-mcrae-so-what-on-earth-should-investors-do-with-their-money-1928161.html
Okay, maybe it wasn't 'long-term' but gold was a great investment 2 days ago, especially with high leverage
(Now $1107 USD).