From Hard Asset Investor:

GLD's largest shareholder, until recently, was noted hedge fund manager David Einhorn's Greenlight Capital hedge fund. Last week, we learned that he'd sold all of his GLD (SPDR Gold Shares (NSYE Arca)) GLD holdings in favor of physical bullion. How much? About 4.2 million shares of GLD, or roughly $390 million.

So does Einhorn know something we don't know? Is the 40 basis points charged by GLD for the privilege of owning their shares a rip-off? Or a great deal?

Let's put some of the moving parts on the table...

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