Friday, 19 July 2013

CNBC: Paulson not worried about gold drop, loves housing

Legendary hedge fund manager John Paulson remains undaunted by the huge plunge in gold, maintaining that the case for owning the yellow metal remains strong.

Perhaps no name has been as synonymous with gold's woes as Paulson, who made his reputation by shorting subprime mortgages prior to the financial crisis unfolding in 2008 and 2009.

Since then, his star has dimmed as a big play he made in gold has gone sour. An expected surge in inflation still hasn't happened, and many investors have bailed as the price has fallen.

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