In New Letter, David Einhorn Blasts Bernanke, And Makes The Case For Owning Gold

David Einhorn

Photo: Screenshot from CNBC

Hedge fund titan David Einhorn, the founder of Greelight Capital, thinks that we will enter another recession sooner or later. The problem, according to Greenlight in a Q3 letter to investors, is that the Fed has announced “desperate measures in non-desperate times” (a.k.a. the Fed’s stimulus measures).

Greenlight believes that if we do enter another recession, the Fed and Congress will have very little tools to deal with it. 

That’s why Einhorn’s Greenlight thinks a large allocation to gold is a good idea. 

Here’s the excerpt from Greelight’s Q3 letter [.PDF], via Dealbreaker.

greenlight letter

Photo: via Dealbreaker

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