Loading ...This week George Soros once again came out with his very large directional “bets” for the S&P 500 and for gold and, needless to say, Mr. Soros is once again shorting the S&P and buying gold and gold miners, joining Ray Dalio, Stanley Druckenmiller and Michael Ballanger (just kidding) in a decidedly unpopular stance. Carl Icahn came out in agreement during a CNBC interview this week that left the interviewer near-speechless and groveling in the mud of anti-Wall Street rhetoric.
In the meantime, some of the smartest investors I know are SOOOO bullish on gold that they are buying huge baskets of penny explorers under a nickel because of the leverage contained when the public finally decides to re-allocate to include gold (and mining stocks). A fund manager I know said to me, “Must be the top!” in reference to this, but it really can’t be the top after a five-month rally representing the largest recorded quarterly advance in mining shares since recordkeeping began.
more http://www.mining.com/web/george-soros-making-big-bets-on-gold/