TSX:SGR.UN - Post by User
Post by
jerryb1on Jan 29, 2009 9:55am
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Post# 15736433
Hedfe Funds Buying Gold
Hedfe Funds Buying GoldA ) Hedge Fund Buys Gold For The First Time
Greenlight Capital Inc. founder David Einhorn, 40, is finally taking his grandfather’s advice. The $5.1 billion hedge fund is buying gold for the first time amid the threat of inflation from increased government spending.
Since Einhorn was 10 years old, his grandfather has warned him that investing in bullion and gold-mining stocks was the only “sensible” thing to do given the threat of inflation and the risks of so-called fiat currencies, New York-based Greenlight said in a Jan. 20 letter to clients. The firm had never before considered buying bullion or shares of miners
Federated Investors
Steven Lehman, who manages Federated Investors Inc.’s $1.3 billion Federated Market Opportunity Fund, beat the S&P 500 by 30 percentage points last year. The fund, which outperformed 99 percent of its competitors last year, also has bet on the precious metal and counts Toronto-based Yamana Gold Inc. and Goldcorp Inc. among its top holdings.
sourc www.amprogram.com