Stan Dryukenmiller, billionaire investor with vast experience in asset management, believes that the bullish trend in the stock market has exhausted itself. Investor has put most of his "working" capital in gold - by AMarkets materials.
Dryukenmiller criticized policy the US Federal Reserve. The expert believes that the regulator monetary policy winds asset prices. Over the past 3 years corporations issuing noticeably "spoiled" - cheap money plus global slowdown led to a loss of productivity. Companies are reluctant to develop a business and do not want to expand the staff.
Dryukenmiller understand investment. By the way, it provides an average yield of 30% per annum from 986 years in the fund Duquesne Capital Management. For investors, gold - liquid asset - so says the expert. The so-called open interest in gold - the current open contracts in futures on the Comex - growing all the time. Interest in metal show and hedge funds, and individual players. Last week, the episode took place (May 3), when the amount of capital inflow in the "gold» ETF amounted to a record in December of 2013.
Since the beginning of February hedge funds is 5 times increased the amount of gold injections (net long positions in futures and options). In 2016, futures on the yellow metal rose in price by 20% - the best start of the year for gold since 2006.