Investors are paying attention to what George Soros has been saying and the changes he has made to his total investment portfolio. Recently, George Soros did some major housekeeping and ended up very heavily invested in gold, SPDR Gold Trust, to be more specific. He bought 1 million shares of options of the bullish persuasion. He is now the largest investor in Barrick Gold Corporation, with his buying 1.7 percent of the company. That adds up to $264 million in gold that George Soros bought just this last March.
He made this major foray into gold after divesting a significant amount of his investments in U.S. stocks. As he has been declaring as advice for others over the last year, Soros has gotten out of some major U.S. companies through his Soros Fund Management. The stock equities on http://www.nybooks.com/contributors/george-soros/ he is no longer associated with include Level 3 Communications Inc. and Dow Chemical. Together, he had invested over $334 million in the two companies. As well, he released everything he had invested in Endo International Plc and Delta Airlines. In total, according to mandatory reporting statistics, George Soros reduced his U.S. stock investments by 37 percent.
Many analysts are saying that they are not shocked at Soros’ actions. China has had such an upset to their economy that it will end up with a similar result to the U.S. economy in 2007 through 2008, claims Soros. His bullish view on U.S. equities has obviously been growing. Now he increasingly recommends investments in gold. However, it should be pointed out that Soros is still heavily invested in assets that total of $3.5 billion. Of that, about $431 million is still invested in U.S. stocks, as reported by the 500 Index Report from Standard & Poor. Read some details on http://www.theatlantic.com/magazine/archive/1997/02/the-capitalist-threat/376773/.
Originating from the Eastern European country of Hungary, George Soros has lived through a lot of interesting history in the 20th and 21st centuries. He was a young teenager when Hitler’s forces from Nazi Germany invaded his country during World War II. He then endured the atrocities committed by the Soviets when they took over occupation at the start of the Cold War. He managed to escape to the West, to England, in 1947.
He attended and graduated from the London School of Economics. Then he moved to the United States and became a citizen. However, his love for Europe and especially Hungary has never waned. He has been a well published and outspoken critic of American foreign policy. George Soros has also been a very generous philanthropist and social rights activist. He started a human rights non-profit organization called the Open Society Foundation (OSF). Through this group, Soros promotes education issues, basic human rights, and better healthcare. You can read more about George Soros here.