Wednesday, August 18, 2010

Large Money Position

Last week, the Malaysian government of Kelantan "said it was introducing a new monetary system featuring standardised gold and silver coins based on the traditional dinar and dirham coins once used by the Ottoman Empire."

This marks the first country to move toward a gold standard.  In addition to watching the monetary moves by individual countries, it is important to watch the actions of the largest hedge funds as they can be more powerful than some of the smaller countries.

Two hedge fund behemoths run by John Paulson and David Einhorn, who both made their names and fortunes by betting against subprime mortgages and financial stocks, now both have the same asset as their largest portfolio position:

Gold.

This morning we received the updated portfolio for the man considered the greatest hedge fund manager of all time; George Soros. 

His largest position?

Gold.

The Golden Bull, January 2000 to Present Day:


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