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Market Watch: The Stock Market May Get Cut in Half, but This ‘Most Undervalued’ Asset is About to Surge, Billionaire Investor Says

Article by Shawn Langlois The Wall Street Journal Market Watch

Paul Singer, the hedge-fund billionaire behind Elliot Management, warned last month that the ultimate path of global stock markets is a drop of at least 50% from February highs. 

What’s an investor to do in the face of such a grim outlook? Load up on gold, perhaps. After all, according to a report this week from the Financial Times, that’s what the smart money’s doing. 

Gold, advised Singer, is “one of the most undervalued” assets available and it’s worth “multiples of its current price” due to the “fanatical debasement of money by all of the world’s central banks.” His fund gained about 2%, the FT reported, thanks primarily to profits from its gold position. 

Andrew Law’s Caxton Associates and Danny Yong’s Dymon Asia Capital have joined Singer in seeking protection in their gold positions amid further loosening monetary policy.

“Gold is a hedge against unfettered fiat currency printing,” said Yong, whose fund is up 36%.

To read this article in Market Watch in its entirety, click here.

 

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Although the information in this commentary has been obtained from sources believed to be reliable, The Gold IRA Company does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. The Gold IRA Company will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.