Welcoming David Einhorn To The "Gold Bug" Club
Our own Lon Juricic is personally welcoming Greenlight Capital's David Einhorn to the "Gold Bug" Club. Recently we learned that Mr. Einhorn started taking the advice of his Grandpa Ben and bought gold for the first time. Lon has been long gold, though the ETF SPDR Gold Shares SPDR Gold Shares (NYSE: GLD), since the fall of 2008, when gold was in the mid-$700 range. Gold has since run to about $900.Einhorn is buying gold and call options on gold and Market Vectors Gold Miners ETF (NYSE: GDX), which is an exchange-traded fund which seeks to replicate the price and yield performance of the NYSE Arca Gold Miners Index. Top holdings of the index include Barrick Gold (NYSE: ABX), Goldcorp (NYSE: GG, Newmont Mining (NYSE: NEM), Kinross Gold (NYSE: KGC), and Yamana Gold (NYSE: AUY).
While Lon is a solid gold bull, he still has some reservations about the precious metal. You can read about those concerns and more on Einhorn here.
Labels: David Einhorn, GLD, Gold, Greenlight Capital
posted by Lon at 9:41 AM
4 Comments:
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Gold is the pricous metrial and increase the value of you money.So gold is the worth buying. I like your post.
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"The Gold-Bug" was an instant success and was the most popular and most widely-read of Poe's works during his lifetime.
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