George Soros Invests Heavily in Gold: Forbes Says don’t Follow him

[Ulrik]

Genius billionaire investor, convicted currency manipulator, and Obama financial backer, George Soros, bought millions of dollars’ worth of gold recently. While the news has investors buzzing and speculating about Soros’ view of America’s faltering economy, Forbes Magazine is warning investors that imitating George would be foolish.

Soros has a doom and gloom view of the US economy, believing it to be on the verge of collapse.

Nigam Arora of Forbes , has warned that neither investor has a good track record when it comes to precious metal investments. Arora is not advising investors against gold, but he is cautioning them not to base their decisions on the thinking of a billionaire with a penchant for shady dealing and extreme secrecy.

[Tom Hitchcock]

Forbes has a point. You shouldn't follow other investors unless you know their plan and their entire range of trades and stocks.

ALthough it will be interesting to see whether Forbes has enough influence to persuade investors from following the lure of Soros and Paulson.