Top hedge fund manager Paulson has just increased his gold exposure even further. Tough to bet against his success.
Also, it would be rather untimely for ECU to get involved in a PP just as gold and especially silver begin their ascent. As GWR mentioned a few posts ago, a sure sign of the cartel's demise would be evident when options expiry is not preceded by the usually vicious gold and silver take-downs. Such an event would be like flare around the world to finally buy gold and silver unhindered.
Regards - VHF
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Fund manager Paulson to start new gold fund: report
Reuters
Wednesday, November 18, 2009; 2:03 PM
NEW YORK (Reuters) - Billionaire hedge fund manager John Paulson is launching a new gold fund, which will include $250 million of his own personal investment, the Wall Street Journal reported on Wednesday.
Paulson is among a number of hedge funds managers stocking up on the precious metal, for centuries considered a hedge against inflation, as governments around the world ramp up spending to combat recession.
Citing three investors, the Journal said the fund will focus on gold mining stocks and gold-related investments.
Paulson spoke about the new fund, which will begin on January 1, at a meeting with his investors in New York on Tuesday.
Paulson's combined gold and gold-related investments make up about half of his firm Paulson & Co's holdings.
