Tuesday, 3 March 2015
Last updated 4 hours ago
Apr 25 2013 | 10:59am ET
Paulson & Co. is not spooked by the recent swoon in gold prices—a swoon that cost firm founder John Paulson in excess of $1 billion. But while the New York hedge fund remains confident in its huge bet on the precious metal, it warns there may be more bumps in the road.
John Reade, a partner at Paulson, told investors on a conference call yesterday that the firm would stay the course with its gold investments. Paulson's thesis is that continued quantitative easing will eventually lead to a spike in inflation that will send gold soaring.
But Reade told clients that there could be more price fluctuations in the short term, Reuters reports.
Gold suffered its worst two-day drop in 30 years earlier this month. The metal's price has since stabilized and recovered somewhat.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…