In August 2012, George Soros dumped more than a million shares of major
financial companies (JP Morgan, Goldman Sachs and Citigroup) with a value of
almost $50 million. On the other hand, his multi-billion-dollar U.S. fund bought
gold, with the portfolio now holding more than $130 million worth of the
precious metal. In the same period, Soros Fund Management also more than
doubled its position in the SPDR Gold Trust to nearly 900,000 shares.
John Paulson, another billionaire investment legend, who predicted the
sub-prime meltdown and made a fortune out of it, also added a huge amount of
gold to his already-gold heavy hedge fund portfolio — an increase of more than
25% in the last quarter worth about $700 million. Paulson’s largest holdings
are in the SPDR Gold Trust, and Bloomberg reported that almost half of his
U.S.-traded equities are now tied to bullion. 
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