LEADING GOLD-EQUITY fund manager John Hathaway says Gold Investing "is an escape hatch" amid the financial world's current woes.
Speaking to the New York Times, "I just think you're in a world where a lot of chickens are coming home to roost," says Hathaway, manager of the Tocqueville Gold fund, which has generated over 800% returns for its Gold Investing clients in the last 10 years.
"Gold bugs, often dismissed as crackpots who hoard Gold Bars in the basement, are finally having their day," says the newspaper.
Hathaway's comments are echoed by hedge-fund manager David Einhorn of Greenlight Capital, who tells the New York Times that his fund's Gold Investing "reflects our concern that [current] fiscal and monetary policies are not sufficiently geared toward heading off a possible crisis."
Einhorn's fund switched out of the gold-backed SPDR Gold ETF trust in spring 2009, choosing to buy physical gold and own it outright – at lower annual costs – inside secure bullion vaults.
Physical Gold Investing – now cheaper, easier and safer at Bullion Vault...