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Wednesday, March 17, 2010

Sperandeo explains Soros Gold Purchase and how he plays the trend

Victor Sperandeo tries to explain why George Soros calling gold the "ultimate asset bubble" at the same time he increased his stake to 9% of his assets.
Victor Sperandeo : All economic cycles are based on a lie , therein lies the key to big money (to play the lie ) to play the trend , and then you have to step off before the lie comes to an end , or before this economic theory is discredited ...so according to Victor Sperandeo , George Soros will play this trend aka the gold bubble but he will try to step off before the trend is discredited ...



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George Soros was born in Budapest, Hungary, in 1930. His father was taken prisoner during World War I and eventually fled from captivity in Russia to reunite with his family in Budapest. Soros was thirteen years old when Hitler's Wehrmacht seized Hungary and began deporting the country's Jews to extermination camps. In 1946, as the Soviet Union was taking control of the country, Soros attended a conference in the West and defected. He emigrated in 1947 to England, supported himself by working as a railroad porter and a restaurant waiter, graduated in 1952 from the London School of Economics, and obtained an entry-level position with an investment bank.

In 1956, Soros immigrated to the United States, working as a trader and analyst until 1963. During that time, he developed his own theory of markets called 'reflexivity', which he has laid out in his recent books THE ALCHEMY OF FINANCE and THE CREDIT CRISIS OF 2008 AND WHAT IT MEANS. In 1967 he helped establish an offshore investment fund; and in 1973 he set up a private investment firm that eventually evolved into the Quantum Fund, one of the first hedge funds, through which he accumulated a vast fortune.