Druckenmiller Reverses on Gold, Sells Entire Holding

[CommissarJones]

Stan Druckenmiller, the hedge-fund manager who used to work with George Soros, has reversed his view on gold and sold his entire holding in the wake of Donald Trump's victory in the U.S. election, according to ZeroHedge.

http://www.zerohedge.com/news/2016-11-1 ... t-election

I note that bullion fell almost 6% this week as measured by the London afternoon fixing.

[stevewhitaker]

This doesn't make any sense to me, as all the reasons he cites for selling were the reasons he cited for buying, and are still valid!

Check out Peter Schiff's take on it in his podcast episode 210 on youtube.

regards

Steve W

[Hampshirelad]

Check out Peter Schiff's take on it in his podcast episode 210 on youtube.

Does that guy have any credibility left?

Yes I know he always says he is right.....but the reality of the last 5 years is he has been consistently wrong.

He (and his like) seem to be perma-bears always predicting armaggedon.....Yes sure they appear right for 12-24mths or so every 10-15 years.....pretty useless track record for investing however

[CommissarJones]

King World News is reporting that Druckenmiller has bought back his long position in gold.

http://kingworldnews.com/alert-hedge-fu ... -position/