Hedge fund operator, David Einhorn, wrote a piece in the Huffington Post today where he talked about his investments in gold and why he was using gold as a hedge against what he termed, the Fed's "Jelly Donut Policy."
Einhorn claims that the Fed's policies are akin to eating Jelly donuts--they taste good, but too many of 'em will make you sick. Specifically, he's talking about the Fed's supposed, "easy money policies." (His term.)
Easy money? Since the Fed began its extraordinary measures back in 2008, it has removed more than $400 billion worth of interest income from the economy. If Einhorn thinks that's the same as eating a jelly donut, he must be eating some pretty funky donuts.
And excuse me but, gold???? That's the trade this "elite" trader comes up with??? Wow! Now THERE'S some out of the box thinking! I guess it doesn't bother Einhorn that the American public, by a large majority, now consider gold to be the world's safest investment.
Gee, that sounds familiar. As in, 2006, when the public considered real estate to be the safest investment? How well did that work out?.
Apparently Einhorn doesn't feel the slightest bit of angst being aligned with such an "elite" group of investors.
1 comment:
Mike,
It's like this guy doesnt even know what the hell is going on in the world....
And again here with the metaphors: "jelly donuts"... it's a tip-off.
Resp,
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