George Soros dumps gold...Paulson stays put

Billionaire investor George Soros's hedge fund exited most of its positions in physical gold in the first quarter of 2011 but hedge-fund manager John Paulson remained invested in the yellow metal amid bets that the rally would continue.

Soros Fund Management, based in New York, owned 49,400 shares of the SPDR Gold Trust at the end of March, down from 4.7 million shares held at the end of December.

Reliance Entertainment - George Soros picks up stake

George Soros has picked up 3% stake in Reliance Entertainment for $100 million (Rs 400 crore). The stake sale puts the value of the company at around $3 billion (approximately Rs 12,000 crore).

Reliance Entertainment is the flagship and umbrella entertainment company of Reliance Anil Dhirubhai Ambani Group and 100% owned by Anil Ambani.

Reliance Entertainment has three main lines of business - Internet and new media, film entertainment and TV broadcasting.

A Reliance Entertainment spokesperson confirmed the development, and added: "We are delighted to have a sophisticated investor like George Soros as a stakeholder in the company that operates in a high growth and high potential entertainment sector offering a complete bouquet of innovative products and services to its audience."

Reliance Entertainment, under its Internet and new media initiatives, has already launched a number of ventures: Zapak, a gaming portal; Big Adda, a social network and social media venture; Big Flicks, an online and offline movie rentals business; and Jump Mobile, a mobile entertainment venture.

The company has signed up frontline directors like Farhan Akhtar - for an estimated Rs 300 crore for six films - Madhur Bhandarkar and Vivek Agnihotri for production. It has recently acquired controlling stake in India's largest production studio - ND Studio. It has also initiated allied ventures such as Big Music (music CDs), Home Video(video) and animation & special effects.

George Soros - Investing Quotes

Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.

If investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring.

The main difference between me and other people who have amassed this kind of money is that I am primarily interested in ideas, and I don't have much personal use for money. But I hate to think what would have happened if I hadn't made money: My ideas would not have gotten much play.


The prevailing wisdom is that markets are always right. I take the opposition position. I assume that markets are always wrong. Even if my assumption is occasionally wrong, I use it as a working hypothesis. It does not follow that one should always go against the prevailing trend. On the contrary, most of the time the trend prevails; only occasionally are the errors corrected. It is only on those occasions that one should go against the trend. This line of reasoning leads me to look for the flaw in every investment thesis. ... I am ahead of the curve. I watch out for telltale signs that a trend may be exhausted. Then I disengage from the herd and look for a different investment thesis. Or, if I think the trend has been carried to excess, I may probe going against it. Most of the time we are punished if we go against the trend. Only at an inflection point are we rewarded.