Savvy Billionaire Bets on Gold

Gold products stack in a graph

When it comes to wise investors, one billionaire that consistently tops that list is Stanley Druckenmiller. The famed investor has proven his genius time and time again when it comes to the market, and over the last year, he’s made moves to buy more gold products than ever.

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A notorious hedge fund manager and the former Chairman and President of Duquesne Capital, Druckenmiller placed more than $323 million of his own money into a gold ETF during 2015—and that was before gold was poised to surge as much as it is now. That investment makes for the single largest position in his family fund, totaling nearly 20 percent of it. That’s twice the size of the fund’s second position, Facebook. Druckenmiller has been quoted that he’ll bet “the ranch” on something when it really excites him. With that in mind, his current position with gold products gives us a clear indication of how he feels about gold.

Throughout his career, Druckenmiller has become a legend for some of his incredible investment decisions. One of the most renowned was his move to short the British pound in 1992, which led to the currency’s devaluation and what many tout as “what broke the Bank of England.” As a result, the British government was forced to withdraw the pound from the European Exchange Rate Mechanism (ERM).

Druckenmiller has been a long-standing proponent of gold products, clearly demonstrated by his wide criticism of the Federal Reserve’s almost zero interest rates and its hefty printing of money. These types of policies and moves by the Federal Reserves are exactly what boosts the appeal of physical gold, silver products and other such assets to investors like Druckenmiller and central banks across the globe.

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