Eric Mindich's Eton Park Buys More Gold and Silver

As previously reported in March, Eric Mindich's gold allocation was already quite big. Now MarketFolly reports that Eric Mindich has been increasing his gold allocations and building a silver one:
Some New Positions initiated in the last quarter:
  • Harmony Gold Mining (HMY)
  • SPDR Gold Trust (GLD) Puts
Some Increased Positions:
  • SPDR Gold Trust (GLD) Calls: Increased by 266%
  • Silver ETF (SLV): Increased by 129%
  • SPDR Gold Trust (GLD): Increased by 31%
Among the top 15 Holdings (by % of portfolio)
  • 1: SPDR Gold Trust (GLD) Calls: 15.9% of portfolio
  • 2: SPDR Gold Trust (GLD) Puts: 7.2% of portfolio
  • 5: SPDR Gold Trust (GLD): 5.3% of portfolio
Interestingly, he increased his long position in GLD, bought more calls on GLD, but also started buying puts, which means that he expects volatility on gold to rise or to would like to insure himself against a temporary dip in the price of gold.

No comments: