MIAMI (ResourceInvestor.com) -- Forced to disclose his investment portfolio as President Bush’s preferred nominee to head up the Securities & Exchange Commission, Chris Cox revealed that he went long gold quite far into the cycle.
Cox is expected to be affirmed to replace outgoing SEC Chairman, William H. Donaldson.
Much has been made of Cox’s $250-500,000 investment in Coca-Cola [NYSE:KO], but it’s not evident that it is any more or less than he’s staked on Newmont [NYSE:NEM].
The Cox family’s $3 million portfolio is otherwise dominated by money market accounts and an S&P 500 Index fund.
It’s certainly not a mainstream portfolio with so much cash, bullion and gold miners.
Complementing the dominant holding in Newmont are investments of between $150-350,000 in Anglogold Ashanti [NYSE:AU], Barrick [NYSE:ABX] and Gold Fields [NYSE:GFI].
Cox also owns American Eagles worth less than $50,000.
Based on prior financial disclosures, Cox’s gold investments are fairly recent, coming in the last 18 months.
Cox, a Republican Representative from California, reported no meaningful debt.
Cox helped write legislation, which was enacted, that discourages frivolous stockholder lawsuits by demanding that the loser pays.
