George Soros just chipped away at his credibility. As noted on this blog, the billionaire trader told folks at the Davos forum in January that gold was "the ultimate asset bubble." But as several readers have pointed out, it turns out that Soros was actually buy gold like a madman through the end of last year.
There are several possible interpretations. 1) Soros really thought in January that there was a gold bubble and was dumping the gold investments he had so recently amassed. 2) Soros really thought in January that there was a gold bubble but also thought that he could profit from it and get out before it collapsed. 3) Soros didn't think gold was a bubble but wanted to talk the price down so he could buy even more.
I would bet on No. 2. Yes, the guy's ego really is that big. However, given the dissonance between the Soros money and the Soros mouth, investors would probably be best served by just ignoring him.