John Burbank’s Passport Capital buys physical Gold Bricks
| December 27th, 2009 | ||
| John Burbank’s Passport Capital has bought physical gold bars in an effort to determine the ease of buying physical gold and test its abilities to hedge inflation. In a MarketWatch article it was reported that the hedge fund firm was interested in testing conspiracy theories regarding the availability of gold. With Passport Capital projecting inflation to be a major problem for the US economy in the upcoming years, the hedge fund believes physical gold to be an even better hedge than futures. The initial purchase was funded solely by business operations director John Moran, but the move may be repeated for investors in Passport’s $1.2 billion Global Strategy fund in the future. | ||
For Detailed Investor Profiles on these Investors, click below: |
Newland Capital Management |
Passport Capital LLC |
Related People: Andrew Seligson;
Related Entities: Balyasny Asset Management*;
Related Article Tags: Multi-Strategy, Long Short, Equity, Debt and Global Macro Hedge Fund News
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