A hot strip for gold contributed to recharging with a strong start to Greenlight Capital, and hedge fund manager David Einhorn said on Wednesday that he still saw more advantages for the yellow metal.
Spot Gold's price has increased more than 20% this year, with most of these profits being made in the first quarter. Einhorn, the President of Greenlight, told Scott Wapner from CNBC that his long -term case for gold was still intact and that the goods remain higher.
“Gold revolves around the trust in financial policy and monetary policy. And since we bought gold in 2008, it was very clear to me that the US financial and monetary policy are both too aggressive and creating a risk,” said Einhorn.
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Gold exceeded the shares in 2025.
Einhorn pointed out the lean costs of the so -called Department of Government Efficiency compared to the size of the federal government's budget, the sign that the fiscal situation will not change soon.
“There is a cross -party agreement not to do anything against the deficit until we actually come to the next crisis,” said Einhorn.
The hedge fund manager said that gold and other defense bodies Greenlight helped to have a strong start to the year. Reuters reported in April that Greenlight increased by 8.2% in the first quarter, citing an investor letter. The S&P 500 fell by more than 4%in the same period.
Einhorn has made it clear that he does not see gold as an inflation bet. In a related trade, however, Einhorn said that he had positions long -dunning inflation waps, which serve as a bet that prices are increasing faster than the market.
“All of these behaviors ultimately lead to inflation and higher inflation,” said Einhorn.
The comments came on the sidelines of the son Investment Conference in New York, where Einhorn had previously unveiled his new investments in a German chemical company.