Paul Singer and his $28 billion from Elliott Management thinks the rally is gold is just beginning. Then again, he’s been saying that shit since 2013 and has been kicked down his billionaire steps every year since.
Nevertheless, I’d rather listen to the man at the helm of $28 billion than some fuckhead jerking off to charts on Twitter.
“It makes a great deal of sense to own gold. Other investors may be finally starting to agree,” Singer wrote in an April 28 letter to clients. “Investors have increasingly started processing the fact that the world’s central bankers are completely focused on debasing their currencies. If confidence in their judgment continues to weaken, the effect on gold could be very powerful. We believe the March quarter’s price action could represent something closer to the beginning of such a move than to the end.”
Historically, Elliott is a very conservative hedge fund, one that actually hedges positions. His returns are expected to come in at around 12% per annum, Bernard Madoff style, enabling him to keep the flow of fees coming in perpetuity so that he could continue his true passion of breaking down bathroom barriers for men with mammaries and women with testicles.
Gold is the best performing asset class of 2016, with many stocks posting triple digit returns thus far.
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