Wednesday, October 7, 2009

John Paulson on Why He is Bullish on Gold

In his newsletter today, Bill Fleckenstein quotes John Paulson the hedge fund manager, on the reasons why he is bullish on gold. John Paulson was speaking at the Grant's Interest Rate Observer conference.  Here is what John Paulson had to say:
"What I'm looking at is not where gold is going to be tomorrow, one week from now, one month from now, three months from now. What I'm looking at is where is gold going to be vis-a-vis the dollar one year from now, three years from now, five years from now. And I think, with a high probability at each of those points, gold will be higher than it is relative to the dollar today. That probability increases the further out you go. So when I look at what the risk is, the risk to me is far more staying in dollars than it is in gold at this point."

No comments: