John Paulson Seeks Redemption in Gold

 
on February 27 2012 3:20 AM

John Paulson says, my Gold Fund will Top all others

Hedge fund manager, John Paulson, is seeking to rebound from record losses in Y 2011, told investors his Gold Fund will outperform his other strategies over 5 yrs

The billionaire, at a meeting Friday at the Metropolitan Club in New York, said the precious Yellow metal is the best hedge against currency debasement as countries inject money into their economies.

Mr. Paulson cited gold as a hedge against the Euro currency, as a breakup may occur, and an eventual increase in inflation.

He went on to tell clients his own money comprises 55% of the Gold Fund's US$1.2-B in assets. The fund, which can buy derivatives and other Gold-related securities, declined 11% last year after the precious Yellow metal fell 14% in the final 4 months.

Europe's sovereign-debt crisis may continue to affect bullion in the near term, Mr. Paulson sail, whose firm manages US$23-B, said this month in a year-end letter to investors. Gold is the best long-term alternative to paper currencies, he said.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels. www.livetradingnews.com

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