Top Fund Managers Turn to Gold

Below is a selection of recent quotes made by leading fund managers made over the last couple of weeks. These guys have stellar, long-term records of investment success and are icons in the industry. What is interesting about these quotes is that all of these managers are turning, in unison, towards one particular asset class – gold.

I would encourage the public to pay more attention to these guys, people like Warren Buffett, George Soros, Jim Rogers and so on. These are the people who have made huge sums of money making outstanding investment calls and, because of their huge success, now take the time to communicate their views to the public as clearly as possible. Buffett is gifted in conveying complex outlooks in non-technical terms.

As Bradley Alford of Alpha Capital Management says "Some of these people are icons of the industry with at least 15-year track records. It's a losing proposition to bet against guys like that. They aren't billionaires because they make bad bets."

He goes on to add "I can't remember in 20 years so many respected investors focused on a single strategy", which leads us on to the list of quotes...

"I have never been a gold bug. It is just an asset that, like everything else in life, has its time and place. And now is that time."

"With only $50 billion in total assets of listed, physically-backed ETFs as of October 14th, there is huge scope for increased flow." "The private-wealth universe of trillions of dollars is under-exposed to gold and now can readily get exposure."

"The scope for increased investment demand over the coming years is much stronger than the potential from new supply." "As a result, incremental new demand must buy gold from current holders... We doubt the transfer of gold from current holders to its new owners will occur at, or near, current prices."

Paul Tudor Jones, Chairman of Tudor Investment Corp.


"If the chairman of the Fed is determined to debase the currency, he will succeed." "Our instinct is that gold will do well either way: deflation will lead to further steps to debase the currency, while inflation speaks for itself."

David Einhorn of Greenlight Capital.


"Do you trust the Federal Reserve et al. to select the precise timing of when to withdraw the money from the system, such that a recovery is sustained and inflation does not take hold? We believe the market, in its forward-looking nature, does not." "It is prudent to focus efforts on obtaining physical delivery of metals backing paper contracts while supplies last.”

Kyle Bass’s Hayman Advisors.