Greenlight's David Einhorn Is Loading Up On Gold As A Hedge Against Something 'Not So Good Happening'
Portfolio Pulse from Adam Eckert
David Einhorn of Greenlight Capital is investing in gold, including shares of SPDR Gold Trust (GLD), as a hedge against potential economic downturns driven by inflation and aggressive monetary policies. Einhorn believes inflation is reaccelerating and anticipates fewer Federal Reserve rate cuts than the market expects, suggesting no cuts at all. This stance is based on concerns over monetary and fiscal policies, with gold prices recently hitting all-time highs.
April 04, 2024 | 7:23 pm
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David Einhorn's Greenlight Capital is investing in SPDR Gold Trust (GLD) as a hedge against inflation and potential economic downturns, amid expectations of fewer Fed rate cuts.
Einhorn's investment in GLD is based on his view that inflation is reaccelerating and that the Federal Reserve may cut rates fewer times than expected. This could lead to increased investor interest in gold as a hedge against inflation and economic uncertainty, potentially driving up GLD's price in the short term.
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