Seeking Alpha

Precious metals and their miners fly higher

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Comments (10)
  • 6151621
    , contributor
    Comments (1180) | Send Message
    "word longtime bull John Paulson has turned seller" ...this reminds me of BAC, once Paulson sold out of BAC it started moving higher (end of 2011). However, based on positions Paulson is still long Silver and Gold in general. ~Kevin
    15 Aug 2013, 02:01 PM Reply Like
  • sethmcs
    , contributor
    Comments (3446) | Send Message
    Paulson is only good playing hands when he set the deck.
    15 Aug 2013, 02:37 PM Reply Like
  • bberuch
    , contributor
    Comments (314) | Send Message
    when blood is in the streets, as it is in Egypt right now, precious metals become ever more precious.
    I hold positions in slv,slw,abx,auy,fcx,gdx, and bvn to balance the portfolio against other securities that would be injured during times of turmoil. Like today's bloodbath, that is what a diversified portfolio is all about.
    Dont worry about Mr Paulson, he took ample profits when he liquidated..
    15 Aug 2013, 02:38 PM Reply Like
  • American in Paris
    , contributor
    Comments (5504) | Send Message
    Paulson has suffered huge losses. His net worth has fallen due to his gold investments.
    15 Aug 2013, 04:58 PM Reply Like
  • mickmars
    , contributor
    Comments (1323) | Send Message
    Poor metals shorts are getting hammered. Not sure why you'd short any tangible asset with ZIRP and $85 billion/month in QE.
    15 Aug 2013, 03:26 PM Reply Like
  • American in Paris
    , contributor
    Comments (5504) | Send Message
    I am short GLD and I didn't get hammered. My hedges worked fine. In fact, the hedges were highly profitable and I am sold some to take profits.


    The reality is that gold has only one direction long term - down. And anyone who shorts a commodity needs to know how to cost effectively hedge.
    15 Aug 2013, 05:01 PM Reply Like
  • Jason Burack
    , contributor
    Comments (1824) | Send Message
    I believe Paulson sold a lot of GLD to buy Gold mining shares. Soros made huge % returns in a short amount of time buying calls on GDXJ and adding GDX shares almost near the exact bottom in late June.
    15 Aug 2013, 03:33 PM Reply Like
  • American in Paris
    , contributor
    Comments (5504) | Send Message
    Soros is out now.
    15 Aug 2013, 05:01 PM Reply Like
  • jjgelinas77
    , contributor
    Comments (7) | Send Message
    All the big dogs sold their shares the past quarter. Now that the big sellings is over, the prices are just going up.
    15 Aug 2013, 05:38 PM Reply Like
    , contributor
    Comments (2013) | Send Message
    long SLV
    15 Aug 2013, 08:03 PM Reply Like
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