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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 368.31

+0.6%

Nov 7 4:00 PM EST

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From: bull_dozer	10/20/2009 1:56:07 PM
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Greenlight's Einhorn advocates gold and gold stocks David Einhorn, the hedge fund manager who had warned on Lehman Brothers' precarious finances, on Monday said he is buying gold and betting that interest rates will rise as he lambasted the U.S. government's financial chiefs for short-sighted policy decisions. The exploding size of the national deficit, which reflects government policies that have simply rewarded bad behavior with massive bailouts, will make gold and gold stocks as well as call options on higher rates good investments, said Einhorn. Speaking at the fifth Annual Value Investing Congress in New York, Einhorn had harsh criticism for Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner. "Although our leaders ought to be making some serious choices, they appear too trapped in short-termism and special interests to make them," he said, calling Bernanke and Geithner "quintessential short-term decision makers. "They explicitly do whatever it takes to solve one problem at a time and deal with the unintendend consequences later." Einhorn, the president of Greenlight Capital, with more than $5 billion in assets under management, advocated buying both physical gold and gold stocks "if monetary and fiscal policies go awry." mineweb.com

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