Today acclaimed money manager Stephen Leeb spoke with King World News about a coming move in gold to $12,000 and a mania in the gold shares. Leeb, who is Chairman of Leeb Capital Management, had this to say: “It’s already been reported that John Paulson and George Soros have just increased their gold holdings. Paulson, in particular, is really betting the house on gold. I believe gold now comprises 44% of Paulson’s fund. Soros, who also knows a thing or two about macro-economics, added a pretty big chunk to his gold holdings.
So we have some very savvy investors moving heavily into gold. We also have people like legendary value investor Seth Klarman, that are aggressively increasing their positions in the mining shares. Klarman’s firm has one of the best track records of any fund around for the last generation.
So whether investors are looking to buy gold or quality mining shares, it is important for them to know they are in good company….”