Thursday, 18 December 2014
Last updated 1 hour 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.