John Paulson: Gold’s Bull Run Is Just Beginning
Mr. Paulson is not just talk but he is putting his and investors money where their proverbial mouth is. These last couple days, gold has tried to sell off just to see it come back strong and eek out a small gain each day. Even silver jumped over $1.00 in the same period. The key is too see if the Dow Jones can make news highs, if it does not then we could be seeing a top and then a decline. At this point it looks like the path is only higher for gold.
Seeking Alpha - John Paulson, lionized by many investors for his winning bet on the fall of the housing and financial markets, is now getting aboard the gold wagon.
The hedge fund manager told his investors that even at $1,150 an ounce, the bull run on gold is just beginning, according to the Wall Street Journal.
His firm, Paulson & Co., plans to launch a fund January 1st dedicated to gold mining shares and other bullion related investments, the newspaper reported.
Mr. Paulson, who is estimated to be worth about $6 billion. His bet against real estate and banks between 2007 and 2009 reportedly netted his hedge fund about $20 billion.