When the going gets tough, the tough go……Bloomberg reports that billionaire
investor George Soros joined Chicago ’s
Old Grey Lady Northern Trust. and BlackRock Inc. in cutting holdings of
exchange-traded products backed by gold before a bear market in prices last
month, while John Paulson maintained a stake that lost about $165 million in
the first quarter.
Soros Fund Management LLC lowered its investment in the SPDR
Gold Trust, the biggest such fund, by 12 percent to 530,900 shares as of March
31, compared with three months earlier, a Securities and Exchange Commission
filing showed yesterday….
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