Someone pointed out that the $859 million GLD position was in the form of call options; I missed that (don’t go through filings late at night!) So the increase in the 13F portfolio from $1 billion to $2.2 billion is largely not ‘real’; just an increase due to the reporting of the notional amount of the…
Tag: GLD
Duquesne Family Office: Druckenmiller Likes Gold
This is not a blog that tracks the buys and sells of hedge funds or anything like that, but I just stumbled on this so I thought I’d post it. (Of course, a hedge fund manager liking gold is hardly breaking news, but…) We all know Stanley Druckenmiller; he needs no introduction (if you do,…
On Gold and Inflation
I typed this up in late February and just found it as a ‘draft’ in my blogger. I thought I posted it already but didn’t. So here it is: So Buffett has a nice tutorial on investing in the most recent letter to shareholders (2011), available for free at the Berkshire Hathaway website. He says…
Gold Standard?
I already wrote about what I think about gold here and here and that’s actually more than I want to say about it, but since there is more talk again about going back to the gold standard, I thought I’d make a couple of quick comments. I actually don’t care too much about this topic as I…
Gold: Interesting Chart
So, I was flipping through some annual reports, catching up on the ever increasing pile of stuff to read. Occasionally, something comes out and grabs me and I have to investigate. The great thing about annual reports is that you learn all kinds of things reading them, not just about the company. This chart came…
Ungold!
Gold has done really well the last decade or so and more and more people are talking about the inevitability of gold as a wealth saving asset (protection against inflation, monetary pump-priming etc…). However, a lot of what we hear today sounds a lot like Howard Marks’ first-level thinking (see here what that means). Central…