George Soros Unloads All Major Financial Bank Stocks; Invests Over $130 Million In Gold (GLD, C, JPM, GS)
ETF Daily News
August 20, 2012
Mac Slavo: In a harbinger of what may be coming our way in the Fall of 2012, billionaire financier George Soros has sold all of his equity positions in major financial stocks according to a 13-F report filed with the SEC for the quarter ending June 30, 2012.
Soros, who manages funds through various accounts in the US and the Cayman Islands, has reportedly unloaded over one million shares of stock in financial companies and banks that include Citigroup (NYSE:C) 420,000 shares, JP Morgan (NYSE:JPM) 701,400 shares and Goldman Sachs (NYSE:GS) 120,000 shares. The total value of the stock sales amounts to nearly $50 million.
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