Saturday, 20 September 2014
Last updated 10 hours ago
Feb 8 2010 | 8:33am ET
Canadian hedge fund manager is betting big on two kinds of gold.
Eric Sprott offered a bullish take on gold’s future. The founder of Toronto-based Sprott Asset Management also pledged some gold to support the future of Canada’s athletes, promising a donation for every gold medal won by a Canadian at this year’s Winter Olympics, which are to begin in Vancouver, British Columbia, this week.
Sprott estimates that gold, currently sitting at about $1,067 per ounce, will soar 40% to $1,500 by the end of this year. And the distant future is even brighter, with Sprott predicting that price will double to $2,000 next year.
Sprott has about 40% of his fund’s assets in gold.
His optimistic take on the precious metal will certainly be music to the ears of another hedge fund manager: John Paulson’s gold-only hedge fund dipped 16% in its first month of operation, a rare misstep for the Paulson & Co. founder.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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