Just saw this out a href=”http://bloomberg.com/apps/news?pid=20601087amp;sid=arz6MqVbTVBs”from Bloomberg/a. I’m not heavy into gold, but keep an eye on it now that David Einhorn and John Paulson have been buying it. I owned the silver ETF for a short time, and may buy it again as it has come down a bit in recent weeks. Although ETF’s are great, when you’re buying in these volumes, they can defeat their purpose.br /br /span style=”font-weight: bold;”-Greenlight Capital Inc., the $5 billion hedge-fund firm run by /spana style=”font-weight: bold;” href=”http://search.bloomberg.com/search?q=David+Einhornamp;site=wnewsamp;client=wnewsamp;proxystylesheet=wnewsamp;output=xml_no_dtdamp;ie=UTF-8amp;oe=UTF-8amp;filter=pamp;getfields=wnnisamp;sort=date:D:S:d1″ onmouseover=”return escape( popwSearchNews( this ))”David Einhorn/aspan style=”font-weight: bold;”, told investors it switched all of its holdings in a gold exchange-traded fund into bullion during the second quarter. /spanbr /br /span style=”font-weight: bold;”-The New York-based fund said the cost of keeping gold in a storage facility is less than it paid in fees for the /spana style=”font-weight: bold;” href=”http://bloomberg.com/apps/quote?ticker=GLD%3AUS” onmouseover=”return escape( popwQuoteShort( this, ‘GLD:US’ ))”SPDR Gold Trust/aspan style=”font-weight: bold;”, according to a letter sent to investors yesterday. /spanbr /br /span style=”font-weight: bold;”-Greenlight, started by Einhorn, 40, in 1996, told clients in January it was buying gold for the first time amid the threat of inflation from higher government spending. The firm held 4.2 million shares of SPDR Gold Trust in the first quarter, making the gold-backed ETF its biggest holding./spanbr /br /This will only add to the ETF debate. ETF’s are wildly popular and are very useful, especially for smaller investors. But when you look at instances like this, and also with what has been happening with the oil and natural gas ETF’s, its clear that these funds aren’t perfect.div class=”blogger-post-footer”img width=’1′ height=’1′ src=’https://blogger.googleusercontent.com/tracker/819581243324579563-8730351768453611131?l=briskycapital.blogspot.com’//div

Last 5 posts by Michael E. Brisky

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