By Robert Baillieul - July 14, 2014 | See also: SLWSLW
No doubt, George Soros is one of the best stock-pickers on Earth.
In 1973, he founded the Quantum Fund. Over the next two decades, Soros went on to generate a 30% compounded annual return for his investors. Thanks to that type of performance, he has cemented his place amongst investing legends like Warren Buffett and Julian Robertson.
Because of his exceptional track record, I always pay close attention to what stocks Soros is buying. Right now, he’s making some interesting bets on the Canadian mining industry.
This “mining” company could double your money
In recent quarters, Soros hasn’t hesitated to express his concerns about fiat currencies and his preference for hard assets. That’s probably why he has accumulated massive positions in mining companies like Barrick Gold, Goldcorp, and Yamana Gold. These metal producers are leveraged bets on higher gold prices and a hedge against inflation.
He also just picked up a new position. Buried inside a recent 13-F SEC filing, Soros disclosed a $9.1 million stake in precious metals giant Silver Wheaton (TSX: SLW)(NYSE: SLW