Monday, October 31, 2011 5:52:01 PM
CHART OF THE DAY: Why John Paulson Says There's No Gold Bubble
Joe Weisenthal | Oct. 31, 2011, 11:01 AM
John Paulson gave a speech last night to the Chinese Finance Association, where he discussed gold, inflation, the outlook for the economy, and what he's investing in.
A key point: He's still a big believer in gold, and he thinks talk of a bubble is ludicrous.
Why?
This picture was taken by trader and twitterer Brenna Hardman, and in it you can see what Paulson is getting at. Gold holdings as a percentage of pension and money market funds remains ultra-tiny. You can make a case about whether or not this matters or not, but the gist of his argument is that you can't have a bubble when ownership is this tiny.
Joe Weisenthal | Oct. 31, 2011, 11:01 AM
John Paulson gave a speech last night to the Chinese Finance Association, where he discussed gold, inflation, the outlook for the economy, and what he's investing in.
A key point: He's still a big believer in gold, and he thinks talk of a bubble is ludicrous.
Why?
This picture was taken by trader and twitterer Brenna Hardman, and in it you can see what Paulson is getting at. Gold holdings as a percentage of pension and money market funds remains ultra-tiny. You can make a case about whether or not this matters or not, but the gist of his argument is that you can't have a bubble when ownership is this tiny.
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