Soros: Conditions ‘Pretty Perfect’ for Gold to Rise

22-Nov-2010

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An eternal optimist, Liu-Yue built two social enterprises to help make the world a better place. Liu-Yue co-founded Oxstones Investment Club a searchable content platform and business tools for knowledge sharing and financial education. Oxstones.com also provides investors with direct access to U.S. commercial real estate opportunities and other alternative investments. In addition, Liu-Yue also co-founded Cute Brands a cause-oriented character brand management and brand licensing company that creates social awareness on global issues and societal challenges through character creations. Prior to his entrepreneurial endeavors, Liu-Yue worked as an Executive Associate at M&T Bank in the Structured Real Estate Finance Group where he worked with senior management on multiple bank-wide risk management projects. He also had a dual role as a commercial banker advising UHNWIs and family offices on investments, credit, and banking needs while focused on residential CRE, infrastructure development, and affordable housing projects. Prior to M&T, he held a number of positions in Latin American equities and bonds investment groups at SBC Warburg Dillon Read (Swiss Bank), OFFITBANK (the wealth management division of Wachovia Bank), and in small cap equities at Steinberg Priest Capital Management (family office). Liu-Yue has an MBA specializing in investment management and strategy from Georgetown University and a Bachelor of Science in Finance and Marketing from Stern School of Business at NYU. He also completed graduate studies in international management at the University of Oxford, Trinity College.







From Money News,

Billionaire investor and philanthropist George Soros may be cutting back on his gold bets, but he says the precious metal still has some kick to it, as long as conditions like low interest rates prevail.

“The conditions for (high) gold are pretty perfect,” he said during a speech in Toronto Monday evening to accept the Globalist of the Year award from the Canadian International Council.

“The big negative is that too many people know this and a lot of hedge funds are very exposed … Gold has a tendency to go parabolic,” he said, pointing at its tendency to fall as quickly as it rises.

In fact, gold fell for a third successive day on Tuesday to its lowest level in two weeks as a stronger U.S. dollar kept commodities under pressure, but spot gold was still above $1,300 an ounce.

Soros reduced some of his big bets on gold in the third quarter, trimming positions in miners including Barrick Gold Corp., Great Basin Gold and Newmont Mining. He left large positions in NovaGold Resources and Kinross Gold unchanged.

CHANGING WORLD ORDER

Soros also spoke on the changing geopolitical order, outlining his expectations for a rapid decline of the United States, equaled in speed only by the ascent of China’s economy since the global economic crisis erupted.

China, he told his audience — which included Bank of Canada governors past and present and CEOs from banks and corporate giants like Research In Motion — has been unscathed by the crisis and now has a better working economy and a better working government than the United States.

The present world order is on the brink of breaking down, he said.
“There is now a rapid decline of the United States and a rapid rise of China,” he said. “It is happening very quickly.”

He said that China got to where it is today by looking out for its own interests, but he warned that the Asian powerhouse would have to start considering the needs of others if the new world order is to emerge intact.

“If they persist in their present course, it will lead to conflict,” he said, adding that China’s neighbors are already getting nervous about its rising global influence.


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