Did Paulson and Soros follow this man to invest in Novagold
GoldBugs will view this as a good news. These superinvestors are making a big bet on Gold and its interesting that they could be the second wave to invest in this supposed new bull market:
Their investments in NovaGold were big news. A number of investors follow Paulson and Soros and soon wanted to invest in NovaGold.
Nathan Vardi, a writer for Forbes, has discovered that Tom Kaplan was actually the first billionaire investor to take a large stake in NovaGold. Vardi says Soros’s and Paulson’s (and everyone else’s) moves followed Kaplan’s lead. Kaplan is a billionaire investor and an “ideas” man whose moves might be watched by other money managers.
Right now Kaplan is very bullish on gold. He bought (through his company, Electrum Strategic Resources) a 28% stake in NovaGold for $70 million in January 2009. He has warrants to buy more. Tigris Financial Group, Kaplan’s family office, manages close to $2 billion in gold assets.
Soros and Paulson are right there with Kaplan on the gold train. Soros was the 4th largest shareholder in SPDR last quarter. His fund is 7.5% invested in SPDR. Gold is Paulson’s biggest bet right now. 17.07% of Paulson & Co is in SPDR Gold Trust. Paulson also launched a fund dedicated solely to gold.
[Read full article at Business Insider >>]
Related posts:
- John Paulson, Carl Icahn, George Soros and Eddie Lampert ups Financial Stocks
- George Soros: Distress buying of mining companies
- George Soros Interview for his new book: The New Paradigm for Financial Markets
- John Paulson’s Hedge fund made 20 billion from disaster. 8 tips how you can do that next time.
- Courts a target for buyout
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
I bought Starhub at a time where many of...
RSS
Twitter
Buzz
Comments
No comments yet.
Leave a comment